BOSTON--(BUSINESS WIRE)--UC Funds is pleased to announce the funding of a $7.35 million acquisition bridge loan on a 218-unit, Class C apartment community located in Corpus Christi, Texas.
The Property is comprised of 22 two-story buildings on a ten acre site. Community amenities include a swimming pool, clubhouse, laundry facilities, and picnic areas. In-unit amenities include walk-in closets, private patios and balconies and bay windows in select units. A portion of the UC Funds loan will be used for renovations to upgrade the roofs, exterior siding and the amenities at the property.
“We had a unique opportunity to provide a fast, reliable capital solution to an entrepreneurial sponsor in a new submarket of Corpus Christi,” commented Dan Palmier, President & CEO of UC Funds.
UC Funds is a national balance sheet provider of creative capital solutions that has closed in excess of $750 million in real estate transactions over the last 18 months and looks to surpass the $1 billion dollar mark in 2014.
UC Funds provides quick, customized financial solutions throughout the entire capital stack. For more about the UC Funds’ commercial real estate platform and how we can help capitalize your commercial real estate investments, visit (www.ucfunds.com).