July 1, 2020 – UC Funds, a vertically integrated commercial real estate specialty finance firm, announced today the $9.25 million acquisition and renovation financing of 150 multifamily units in Birmingham, Alabama.
This recent closing represents UC Funds’ 10th transaction in the Southeast region this year, alone. “We work with some of the best brokers and sponsors in the Southeast region, said Domenico Manago, Managing Director of Sales of UC Funds. “The sponsor on this project has experience in multifamily but needed speed to close – we were able to close this transaction within 30 days.“
Previously known for its manufacturing core, Birmingham has transformed itself into a banking, medical research and transportation-driven economy. Amazon is currently constructing a fulfillment center in Birmingham which will add 3,000 jobs in the city.