UC Funds $14.65 Million Multifamily Renovation in Memphis, TN
Boston, MA – March 9, 2020 – UC Funds, a vertically-integrated commercial real estate specialty finance firm, announced today the closing of Luther Tower, a $14.65 million first mortgage loan for the acquisition and renovation of a multifamily high-rise community totaling 196 units located in Memphis, Tennessee.
“Luther Tower will deliver a well-amenitized multifamily community to serve the growing logistics and distribution industry of the region as well as University of Memphis’ student population that seeks off-campus living options,” said Cathy Oniffrey, Managing Director for UC Funds. We were able to work with the Sponsor to expand their footprint in this attractive market in the Southeast.”
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