UC Funds, a vertically integrated commercial real estate specialty finance firm, announced today the acquisition financing of a land deal on coveted waterfront in Norfolk, Virginia. The property will be improved with a 273-unit luxury multifamily property for a repeat UC Funds sponsor.
“We pride ourselves on building and growing relationships, said Dan Palmier, CEO of UC Funds. “We have been growing with this Sponsor and their team for over five years now. We always see high quality projects and they know they are getting the most reliable capital solutions, executed quickly each time they partner with UC Funds.” This transaction was funded in less than 21 days from term sheet execution during the Covid 19 pandemic.
In addition to robust entertainment and tourism, the Port of Virginia market is the third largest container port on the east coast, with the world’s largest naval base and several Fortune 500 companies, supporting over 400,000 jobs in the local and regional economy.
