Source: UC Funds / #Apartments #Multifamily
STAMFORD, CT - UC Funds has originated a $28 million first mortgage under its new Low Floater Program, to refinance the Park Square West Apartments in downtown Stamford, CT. UC Funds' nationwide Low Floater Program is a fast, flexible and reliable capital solution with more than $1 billion in available capital for direct lending.
Park Square West is a 143-unit Class A multi-family housing development that affords tenants a prime location with an easy Metro North commute to Manhattan. Built in 2001, the property features more than 10,000 square feet of ground retail space, a state of the art fitness center and brand new sushi restaurant.
"We are very excited to roll out our new 1st Mortgage Low Floater transitional loan product with the Park Square West Apartments, in the heart of downtown Stamford," said Daniel Palmier, CEO of UC Funds. "With leverage levels up to 85% and pricing starting at L+373 we project more than a billion dollars per year in this product alone."
UC Funds is a national balance sheet provider of both debt and equity capital solutions, that has closed in excess of $1 billion in real estate investments over the last 36 months. UC Funds provides quick financial solutions throughout the entire capital stack, including joint venture equity.