UC Funds Multifamily Acquisition and Renovation in Jacksonville, FL
MIAMI, FL, UNITED STATES, December 27, 2022/ EINPresswire.com / -- UC Funds a $38 million loan for the acquisition and renovation of a 232-unit multifamily townhome community in Jacksonville, Florida, on of the fastest growing multifamily markets in the country. This transaction highlights UC Funds’ speed and certainty of execution. UC Funds leveraged a core value proposition - certainty of execution - when a prior lender pulled back.
“We remain active across all markets to provide creative and reliable capital solutions to sponsors, nationwide. On this project, UC Funds was able to quickly step in when a previous lender put their pencil down mid-stream. Our flexible financing solution will allow the borrower to complete this heavy renovation, enabling them to reposition this asset as one of the best in the entire market,” said Ross Pemmerl, Chief Credit Officer for UC Funds. “We are still crankin’ when others are putting their pencils down. UC has substantial experience in the Jacksonville market, and we like Jacksonville’s strong growth projections and solid underlying market fundamentals. The sponsor’s business plan for this asset aligns well with our outlook on the Jacksonville market as a whole, and it was easy to marry UC Funds’ entrepreneurial approach with the sponsor’s overall vision for this project.”
About UC Funds
UC Funds is a proven sponsor with a full integrated investment platform and a strong team that has experienced multiple real estate cycles. Providing over $3 billion of capital solutions, UC Funds is a national capital solution provider, recognized as one of the industry’s most sophisticated financial allies. With a diverse pool of investments spanning geographies and property types including multifamily, retail, industrial, hospitality and office, our agile team analyzes, structures and closes deals quickly. Learn more about us at UCFunds.com or on LinkedIn.
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