Boston, MA – UC Funds exits a $11 million first mortgage for a multifamily portfolio in Northwest Texas. This first mortgage loan was used to help the sponsor acquire 275 units across four properties. This transaction highlights a successful aspect of UC Funds’ platform which finances cash-flowing properties in strong multifamily markets.
“This portfolio lending demonstrates our commitment to continue lending when others were in retreat. We remain bullish on commercial real estate and view the current market as opportunistic, with a specific focus on cash-flowing projects that are approaching stabilization,” said Cathy Oniffrey, Managing Director of Capital Markets & Asset Management. “Our ability to get creative and act swiftly, once again, allows UC to fund a variety of submarkets coast to coast with a smart transition to exit in a short period of time.”
UC Funds worked as the financial ally for this younger Sponsor who had a great vision for the portfolio but needed a lending partner to help “get him off the ground”. UC Funds Asset Management team applied swift and solid tactics, working with the Sponsor to implement a strong turnaround strategy and stabilization of the three assets.
Learn more about our platforms and lending approach here or contact us at info@ucfunds.com for a full scope of our platforms for commercial real estate.
