We are pleased to share another exit this past quarter of Embassy Crossing in Port Richey, Florida. Embassy Crossing is a significant retail center with more than 333,000 square feet of retail on a 31 acre site. The UC Funds $24 million loan helped the sponsor with the necessary operations and marketing repositioning needed to solidify new tenancy and increase foot traffic over a 3 year period. Embassy Crossing represents powerful utilization of the UC GO platform which provides an experienced sponsor and cash-flowing asset with an innovative financial structure that enabled them to achieve their business plan and increase occupancy from 75% to over 95%. During a time when retail business paid the price of the global pandemic, our UC Funds’ asset management and servicing teams remained focused and engaged with the sponsor every step of the way to enable such a successful exit.
