UC Funds $7 Million First Mortgage and helps Sponsor’s repositioning in the strong Miami multifamily market.

Boston, MA – November 11, 2019 – UC Funds, a vertically-integrated commercial real estate specialty finance firm, announced today the closing of a $7.0 Million first mortgage loan for the acquisition and renovation of Nomi Village Apartments. The Property’s location, in the heart of North Miami, makes the site highly coveted.

UC Funds’ loan will capitalize a comprehensive $1.5 Million property improvement plan, enabling the Sponsor to continue to increase value in this robust market. The Sponsor will conduct renovations and interior upgrades to all 48 units {~151</unit), as well as provide new and upgraded common amenities for residents. This marks UC Funds’ 10th transaction in the Southeast Florida market.

“we are excited for this opportunity to finance a value-add investment that will enhance the North Miami market’s revitalization and booming residential sector,· said Joe Ambrose, Sr. Vice President of Production at UC Funds. ·Nomi Village is in a strong submarket experiencing consistent rental rate growth. The location, paired with the Sponsor’s impressive track record and UC Funds’ expertise in property repositioning make this an excellent investment.”

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.

Contact us today for your commercial lending needs.