UC Funds, a vertically integrated commercial real estate specialty finance firm, announced today the funding of a $15 million first mortgage for Class AAA multifamily construction.
The multifamily project is located in Capitol Hill, a sub market of Seattle, and less than a mile from Amazon headquarters.
Stalled in progress due to COVID-19, UC Funds jumped in to help the sponsor complete construction. “This is yet another transaction that illustrates UC Funds’ focus and sophisticated financial lens to advance stalled projects even during the pandemic”, said Dan Palmier, Founder and CEO of UC Funds.
“We believe in the long-term strength of the United States economy. Accordingly, our mission stands firm, to provide sponsors with the necessary capital to keep their projects moving forward. We have closed more than $500 million in transactions since COVID-19 pandemic began. Brokers and sponsors alike are contacting us to help them fund projects, preserve and rescue their deals.
Our team at UC Funds is courageously working around the clock. We also count our blessings every day and continue to give back through our affiliated 501 C 3, known as the ONE Foundation. To date, we have given over $200,000 to feed the hungry and provide needed masks and other medical supplies.”
About UC Funds
Providing over $2 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. We are “ALL IN” for the next 10 years.