October 13, 2020 – UC Funds, a vertically integrated commercial real estate specialty finance firm, funded a $21.3 million acquisition loan for a 286-unit multifamily project in Richmond, Virginia.
This recent transaction exhibits UC Funds’ continued dominance in the multifamily sector, even during the pandemic. “We understand the value play for sponsors who see an acquisition opportunity and need our speed to seize it,” said Joe Ambrose, Senior Vice President of Production for UC Funds. “The sponsor is a valued customer of UC Funds with a robust portfolio in the Southeast and Mid-Atlantic markets, two regions we love to invest in.”
With a strategic location on the James River and adjacent to I-95, Richmond has a robust population and economic growth projection. Financial, health, governmental, and transportation markets contribute to Richmond’s strong fundamentals.