Fidelity Bancorp Doubles Lending Capacity to $600M
A Southern California-based private credit platform has doubled its lending capacity following a global investment firm’s nine-figure commitment.
Costa Mesa’s Fidelity Bancorp Funding (FBF) landed $300 million from TCW, a Los Angeles-based firm with more than $200 billion in assets under management.
The deal grows FBF’s lending capacity to $600 million. FBF’s platform specializes in relatively small bridge financing, such as $8 million for an industrial property in El Monte, Calif., a $6.5 million loan for a retail property in Portland, Ore., and $6.5 million for a multifamily complex in Vicksburg, Miss.
FBF tapped Marcus & Millichap's William Hughes as executive managing director in early October.
Author Summary: Fidelity Bancorp Funding doubles lending capacity.
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