UC Funds, a vertically integrated commercial real estate specialty finance firm, funded a $13 million construction loan for a 40 unit student housing project in Berkeley, California.
This recent closing displays UC Funds’ substantial, national drive in providing liquidity during Covid-19. “The sponsor’s previous lender stopped funding, leaving our sponsor in a desperate situation. At UC Funds, we remain focused to work creatively with sponsors to get their projects moving in all markets and across many asset classes,” said Dom Manago, Director of Sales for UC Funds. “The broker heard of our continued closings despite the Covid-19 pandemic and knew we could offer certainty of execution for this project.”
The San Francisco-Oakland-Berkeley MSA in one of the largest markets in the United States. Located on University Avenue, the site is next door to the University of California – Berkeley with enrollments in excess of 45,000 and considered in the top 10 institutions in the world.
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