UC Funds Adaptive Reuse Project in Atlanta
$37 million funding will support office to multifamily conversion with retail component
ARDMORE, PA, UNITED STATES, December 22, 2022/ EINPresswire.com / -- UC Funds $37 million capital solution for an adaptive reuse project in downtown Atlanta. Once complete, the project will feature 165 Class A multifamily units and 20,000 square feet of retail and commercial space. UC Funds structured the capital to accommodate $15 million in subordinate historic tax credits and PACE investments. This transaction highlights UC Funds’ expertise in providing creative capital solutions for complicated capital stacks as well as expertise in adaptive reuse project financing.
“This project demonstrates our expertise in understanding adaptive reuse projects that contain intricate structures including federal and state tax credits, as well as, PACE funds. Upon completion, this mixed-use project will be 100% leased under a master lease to Sonder, a national apartment-hotel operator,” said Dan Palmier, President and CEO of UC Funds.
About UC Funds: Providing over $3 billion of capital solutions, UC Funds is a vertically integrated, one-stop shop for commercial real estate capital solutions and has earned a national reputation for being the industry’s most sophisticated financial ally.
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