Fident Capital secured $4.5MM of bridge financing for a 0.65-acre development site in San Diego’s Ocean Beach neighborhood. The borrower is an experienced San Diego–based development partnership with over 30 years of local market experience. A local private lender with deep market knowledge provided an 18-month loan (66% LTV) with extension options and interest-only payments, exceeding the original loan request and allowing for a cash-neutral refinance of the existing debt.

Located just one block from Ocean Beach’s primary retail corridor and 0.25 miles from the Pacific Ocean, the site presents compelling mixed-use development opportunities. With CC-4-2 zoning supporting 19 residential units under base zoning, or potentially 40–50+ units through Complete Communities provisions, the property offers significant development potential.
 
The primary challenge was securing appropriate financing terms for a land loan in the current capital environment. Many lenders remain selective when it comes to land financing. Fident’s relationships and market knowledge identified dozens of capital sources comfortable with coastal development, and our understanding of the development potential and zoning provisions helped effectively communicate the property’s value.

Maintaining appropriate confidentiality proved critical, as the property remains under contract for sale and generates operating revenue. Fident provided necessary deal information while protecting sensitive details from broader market exposure, preserving the borrower’s negotiating position.

Despite challenging capital market conditions affecting land financing, Fident generated competitive interest from capital sources, receiving initial term sheets within two days of marketing launch and securing of favorable terms within eight days. The accelerated timeline, closing 30 days ahead of the target date, provided significant relief from the pressures of the incumbent lender.