UC Funds $18.5 Million for Multifamily Portfolio in Newark, NJ
Boston, MA – March 4, 2020 – UC Funds, a vertically-integrated commercial real estate specialty finance firm, announced today the closing of a $18.5 million first mortgage loan for the acquisition of a multifamily portfolio totaling 251 units located in Newark, New Jersey. “This Newark Portfolio provides affordable living and easy access to New York City with value-add renovations for the market,” said Ross Pemmerl, Vice President of Underwriting for UC Funds. “We were able to work alongside the Sponsor to develop a creative capital solution for the entire portfolio.”
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