Firm finances $8.0 Million First Mortgage on Class A Multifamily in Fort Wayne, Indiana
Boston, MA – January 24, 2020 – UC Funds, a vertically-integrated commercial real estate specialty finance firm, announced today the closing of a $8.0 million first mortgage loan for the renovation of a 386- unit multifamily. UC Funds’ loan enables the Sponsor to renovate and upgrade existing units and add much-sought amenities to the community. This marks UC Funds’ 25th transaction in the Midwest market.
“With attractive demand drivers and robust employment in the healthcare, education and industrial sectors, the Fort Wayne market is in need of a gut-renovated, highly-amenitized Property like Parkview Village,” said Ross Pemmerl, VP of Underwriting for UC Funds. “The track record and business plan of the Sponsor makes this an excellent and exciting business plan.”
About UC Funds
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.
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