BOSTON--()--UC Funding LLC is pleased to announce the closing of a $6.4 million bridge loan for the acquisition and renovation of a 247 bed student-housing property. The property is located in Tucson, AZ, less than a half mile from the University of Arizona campus. The loan provided for over $1.2 million in unit upgrades and amenities at the property.
Dan Palmier, President & CEO of UC Funding, said, “This repeat borrower came to us because they knew that we would close the deal on time and on terms agreed. The borrowers have a relevant and successful track record in value-add sector of the student housing market. This is UC Funding’s fifth transaction in the last 18 months with this borrower.”
UC Funding is a national balance sheet provider of capital solutions, involving both debt and equity, that has closed in excess of $500 million in real estate investments over the last 18 months. UC Funding looks to hit the $1 billion dollar mark in 2013. For more information about UC Funding’s commercial real estate platform, please visit (www.ucfunds.com).
UC Funding’s core belief is that real estate ownership and real estate financing should work together as a partnership. By working together, UC Funding shares each and every client’s vision of creating innovative financial solutions.
UC Funding provides financial solutions throughout the entire capital stack, including joint venture equity. UC Funding is one of the nation’s most entrepreneurial lending institutions focused on Multi Family, Retail, Office, Hotel and Industrial/Warehouse assets nationwide. For more about the UC Funding’s commercial real estate platform, visit (www.ucfunds.com).