Success Story
A real estate investor and business owner needed financing to complete a value-add project in the Little Italy section of downtown San Diego. The reconfiguration of three existing residential units into five rental units within a mixed-use property. The borrower sought a lender that could offer a creative and secure funding solution, including cross-collateralization, to complete the upgrade without relying on third-party financing.
Fidelis Private Fund provided a $400,000 2nd Trust Deed loan secured by both the mixed-use investment property and a second home owned by the borrower. The primary property includes five residential units (post-conversion) and a commercial space operated by the borrower’s own business with a conservative combined loan-to-value (CLTV) ratio of 56%.
Exit Strategy
The borrower plans to refinance with a conventional lender upon completion and stabilization of the units.
Value Added
Fidelis structured a flexible and well-secured loan that supports completion of a high-yield property enhancement. This transaction highlights Fidelis’ ability to provide tailored, low-risk financing to experienced investors leveraging both income and equity across multiple assets.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.