Boston, MA – UC Funds a $23.4 million loan for an adaptive reuse project consisting of 154 multifamily units and more than 26,000 square feet of retail and commercial. This recent transaction illustrates UC Funds’ expertise with adaptive reuse projects that require public and private collaboration.
UC Funds coordinated the complex capital stack, including tax credits and several public-private partnership models to execute. “This closing showcases our expertise in adaptive reuse and complex structures in both design and capital solutions,” says Ross Pemmerl, Chief Underwriting Officer. “This iconic building and location in downtown Cincinnati will attract individuals and companies from their core healthcare, consumer, financial, and logistics Fortune 500 company makeup.”
Nicknamed the “The Queen City,” Cincinnati benefits from its central location between Southwest Ohio, Northern Kentucky, and Southeast Indiana. Cincinnati is home to seven Fortune 500 companies: Kroger, Procter and Gamble, Fifth Third Bancorp, Western & Southern Financial Group, American Financial Group, Cincinnati Financial, and Cintas. It has three professional sports teams and University of Cincinnati, one of the largest institutions in the US.
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