UC Funds recently announced its closing on a $20.55 million first mortgage loan for the second phase of mixed-use development Liberty Square, at 236 West Thompson Street in the Northern Liberties neighborhood of Philadelphia.
UC Funds announced the closing of an $8 million first mortgage loan for a 34-unit multifamily property in Long Beach, California. The loan will fund large-scale renovations and upgrades for the property and individual units. The asset, consisting of two adjacent two-story buildings, was built in 1961.
As alternative lending options become the new normal for developers looking to fund real estate projects, UC Funds’ GOthe firm’s commercial mortgage bridge loan, has made great strides this past year.
Philadelphia’s Liberty Square Phase II calls for a ground-up mixed-use development thanks to UC Funds’ first mortgage loan of $20.55 million. Once complete, Liberty Square Phase II will include an underground parking garage…