UC Funds $60 Million New Construction in San Diego Market
Boston, MA – UC Funds, a vertically integrated commercial real estate specialty finance firm, has funded a $60 million construction loan for a 72-unit Class AAA luxury multifamily and 20,000 square feet retail project in Poway, California, an affluent suburb of San Diego.
This recent transaction demonstrates UC Funds’ entrepreneurial lens and ability to execute complex transactions. “This transaction demonstrates UC Funds’ ability to capitalize the completion and lease-up of a stalled project”, said Ross Pemmerl, Chief Credit Officer for UC Funds. “We believe in the local developer who is active in this region and structured a winning solution to bring this beautiful project to the market.”
The Poway project will serve as a focal point for Poway’s downtown redevelopment program. San Diego is the second largest city in the state of California. Poway, one of San Diego’s most affluent suburbs, has a 900-acre business park with over 500 businesses providing significant employment opportunities to the area. General Atomic Aeronautical, Sysco, and GEICO, among others, have a significant presence along this corridor.
About UC Funds. Providing over $4 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. UC Funds is headquartered in Boston with offices in New York, Atlanta, Miami, Chicago, and Denver.
For investment or lending inquiries, please contact info@ucfunds.com.
