UC Funds, a vertically integrated commercial real estate specialty finance firm, announced today the funding of a $33 million first mortgage to acquire a 529-unit multifamily in Indianapolis, Indiana.
The multifamily project is the 10th closing during the COVID-19 pandemic and is another example of the speed and reliability that UC Funds delivers. “The sponsor’s original lender did a last-minute “pencils down” due to COVID just 27 days ago”, said Ross Pemmerl, Chief Credit Officer of UC Funds. “We were able to evaluate and underwrite the transaction with enough time to meet the closing deadline”
Indianapolis is always a top market for UC Funds and is home to three Fortune 500 companies and numerous Fortune 1000 companies with a robust manufacturing economy as well as health services, pharmaceuticals and transportation / distribution.