A repeat client needed to access the equity in a free and clear commercial land parcel entitled for a C-store, gas station, and car wash. Rather than selling the property, the borrower wanted immediate access to the equity via a cash-out refinance loan for other investment opportunities.
Fidelis Private Fund provided the borrower with a $800,000 1st Trust Deed refinance loan, resulting in a Loan-to-Value (LTV) ratio of less than 50%.
The exit strategy is to refinance with a construction loan or pay it off with borrower cash flow.
The Fidelis Private Fund helped the borrower by performing quickly and allowing the borrower to tap the equity in an existing property instead of selling the property, which resulted in a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.