December 27, 2021 – UC Funds a $57 million loan for the recapitalization and ground up new construction of a multiphase Class A multifamily in Fairfield County, CT. This is the second phase and new construction consists of 210 new units.
UC Funds coordinated the recapitalization of Phase 1 and developed a successful capital structure for their Sponsor. “Our borrower partner is a repeat client of UC Funds and does excellent work with new construction projects, says Justin Capuano, AVP of Production. “As this is our second significant project with the sponsor, they turned to us for our certainty of execution to help them close this large 7 – building community.”
Fairfield County is the wealthiest county in Connecticut. This submarket contains numerous Fortune 500 companies and displays solid economic and demographic fundamentals, which UC only sees growing stronger over the foreseeable future.
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