UC Funds Multifamily in Jacksonville, FL
Miami, FL – UC Funds a $38 million loan for the acquisition and renovation of a 232-unit multifamily townhome community in Jacksonville, Florida. This week’s transaction highlights UC Funds’ speed and certainty of execution.
“We remain active across all markets to provide creative and reliable capital solutions to sponsors, nationwide. On this project, UC Funds was able to quickly step in when a previous lender put their pencil down mid-stream. Our flexible financing solution will allow the borrower to complete this heavy renovation, enabling them to reposition this asset as one of the best in the entire market,” said Ross Pemmerl, Chief Credit Officer for UC Funds. “We are still crankin’ when others are putting their pencils down. UC has substantial experience in the Jacksonville market, and we like Jacksonville’s strong growth projections and solid underlying market fundamentals. The sponsor’s business plan for this asset aligns well with our outlook on the Jacksonville market as a whole, and it was easy to marry UC Funds’ entrepreneurial approach with the sponsor’s overall vision for this project.”
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