BOSTON, MA - UC Funding has closed an $8.1 million bridge loan on Ridgecrest Apartments located in Dallas, TX. The transaction was closed in less than 30 days.Ridgecrest Apartments is 250 unit multifamily apartment complex located in the City of Dallas, seven miles southwest of the central business district.
"We are pleased to provide this interim capital solution to one of our many repeat customers. The seller was motivated to close quickly and UC provided capital to meet the time frame. UC also expects to provide a permanent loan solution, most likely through HUD, within the next 6-9 months" said Dan Palmier, President and CEO.
UC Funding LLC ( www.ucfunds.com ) is a national, diversified, real estate finance company, founded in 2010 and headquartered in Boston, with offices in New York and Miami. UC Funding provides commercial real estate financing solutions throughout the United States. Nearing 1 Billion in capital and a growing staff of 50 team members, UC Funding serves as one of the nation's fastest growing real estate financing institutions. UC Funding was nominated company of the month during 2011 by both the New York Real Estate Journal and New England Real Estate Journal. 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.