A repeat client owned three existing rental units in Logan Heights, a community near downtown San Diego, and needed a construction loan to add two additional units to transform the property into a commercial multi-family 5 unit property.
Fidelis Private Fund provided the borrower a $925,000 1st Trust Deed refinance construction loan at a 55% LTV ratio after completion.
The exit strategy is to sell the property at completion.
The Fidelis Private Fund helped the borrower by providing the construction loan to add substantial value to the property. At the same time, we made it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.