99-unit multifamily property to be rebranded as Woods of Decatur
Decatur, Georgia–June 15, 2018–UC Funds, a vertically-integrated commercial real estate specialty finance firm, announced today the closing of a $4.1 million first mortgage loan for the acquisition and renovation of Woods of Decatur, a 10-building, 99-unit multifamily property located at 2566 Whites Mill Road in Decatur, Georgia.
Once acquired, the planned renovation includes rebranding from the current name of Laurel Mills to Woods of Decatur, bringing nine down units back online, conducting interior renovations for 40 units, installing enhanced security measures, resolving deferred maintenance issues from the previous owner, updating property exteriors, and adding and improving amenities for residents. Provence Real Estate, LLC is the new property manager at the asset.
“We are on track to close over 30 deals this year, a testament to the increased pace of UC GO closings as well as the continued resiliency of the higher-yielding loan platform,” said Daniel M. Palmier, President and CEO at UC Funds. “We are also excited to be active once again in the Atlanta area, a region where we’ve had a strong presence in the past.”
This transaction is the 11th UC GO transaction since the program launched in late 2017. UC GO is the – most competitive commercial mortgage product available in commercial real estate today.
Woods of Decatur is situated in Decatur, Georgia, a suburb about five miles east of Atlanta. A growing suburb, Decatur has a historically strong growth trend, double that of Atlanta at 3.2 percent. The Decatur neighborhood is dense with a heavy multifamily, residential, and commercial mix of properties. Woods of Decatur is located only one mile from the popular Gallery at South DeKalb retail center and two miles from Perimeter College at Georgia State University.
Providing over $2 billion of capital solutions to date, UC Funds is known as the “go to” commercial real estate capital provider and the most sophisticated financial ally in the industry. Their team is dedicated to developing and maintaining long-term relationships with borrowers, and the company has earned a strong reputation for providing extensive reliability, standing by borrowers through completion. Those interested in learning more about UC Funds can visit www.UCFunds.com.
About UC Funds
Founded in 2010 by Daniel M. Palmier, UC Funds is a vertically integrated commercial real estate specialty finance firm that originates, structures, underwrites, and asset manages its estate investments. A national balance sheet provider of both debt and equity capital solutions, UC Funds has provided over $2 billion of capital solutions to date. UC Funds offers quick and customized financial solutions throughout the entire capital stack, including joint venture equity. One of the nation’s most entrepreneurial lending institutions, UC Funds focuses on multifamily, retail, office, hotel, industrial/warehouse, adaptive reuse, and construction assets nationwide. The firm has developed strong relationships with past and current borrowers through their renowned customer service, creativity, speed, and reliability. In July 2017 UC Funds announced the launch of their industry leading non-recourse commercial mortgage bridge loan, UC GO. This is the most transformative and competitive commercial mortgage product available in commercial real estate. The variable rate non-recourse product, which starts at LIBOR +350, is available for loans as little as $5 million. To apply for UC GO financing, please contact Domenico Manago, Managing Director of Sales, at 857-288-2811 or email Dmanago@ucfunds.com. For more information on UC Funds, visit www.UCFunds.com or https://danielpalmier.ucfunds.com/.