UC Funds $10 Million Multifamily in Memphis, TN
UC GO Platform injects much-needed capital for stalled projects.
UC Funds $10 million to a 200-unit multifamily project in Memphis. This first mortgage bridge loan will capitalize minor renovations and aesthetic upgrades, while providing the Sponsor with the time needed to finish leasing up and optimizing operations over the next 12 months. As the second largest city in Tennessee, Memphis demonstrates strong employment fundamentals including Fedex’s global headquarters, national distribution and fulfillment centers for both Amazon and Nike, a large hospital and healthcare network, and significant local and state government presence.
This week’s transaction highlights UC Funds’ UC GO platform with rates starting at SOFR+250.
“In today’s environment, our UC GO platform is a timely form of rescue capital for cash-flowing projects that are just steps away from stabilization,” said Domenico Manago, Managing Director of Sales. “We remain committed to creative solutions as others retreat from lending.
About UC Funds. Providing over $4 billion of capital solutions, UC Funds is a one-stop shop for commercial real estate capital solutions and has earned a national reputation for being the industry’s most sophisticated financial ally. UC Funds is headquartered in Boston with offices in New York, Atlanta, Miami, Chicago, and Denver.
About UC GO. There are two levels of this unique platform. UC GO is the platform for $5 to $50 million and UC GO Plus platform is for projects greater than $50 million.
Learn more about UC Funds’ capital solutions, by emailing firstname.lastname@example.org for a full scope of our platforms for commercial real estate.