About this Property in San Diego, CA

A repeat borrower with Enact Partners was in escrow to purchase a single-family investment property and needed funds quickly to secure the property. The borrower intends to take advantage of California’s recent changes to Additional Dwelling Units (ADUs) construction laws and transform the single-family property into a 12-unit multi-family property. The borrower will secure construction financing to build the ADUs, which will pay off our 1st Trust Deed purchase loan. We played a vital role in getting the borrower the funds needed to close the deal without the need to jump through hoops. Enact Partners participated in the loan 50/50 with a lending partner (Fidelis Private Fund).