Success Story
A repeat Fidelis borrower needed financing to pay off existing acquisition debt and fund the full redevelopment of a two-parcel infill site in San Diego’s College Area into a ten-unit multifamily rental property.
Fidelis structured a $2,680,000 first trust deed refinance and construction loan at a maximum of 60% of the as-complete stabilized value of $4,112,000.
The borrower plans to refinance into permanent financing upon construction completion and stabilization of the rental income stream.
Value Added
Fidelis delivered a single loan structure covering both the payoff of existing debt and full construction funding. This transaction demonstrates Fidelis Private Fund’s ability to provide experienced developers with flexible, execution-focused bridge and construction capital that conventional lenders cannot match.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.