2015 Year in Review - Dan Palmier

December 22, 2015 - Spotlights
Daniel Palmier, UC Funds Daniel Palmier, UC Funds
What was your most notable project, deal, transaction or professional achievement in 2015? UC Funds, over $1 billion in equity over the past four years, has reached another new milestone this year; funding more projects than ever before, funding over $400 million in 2015. While being a “One Stop Shop” for capital solutions, one of the most notable recent capital solutions, was in Kansas City Missouri. The UC Funds team negotiated a $30 million adaptive re-use bridge loan.  Proceeds of this loan were used to convert three vacant buildings and a parking garage into a 260-unit, mixed-use project with an additional 26,000 s/f of retail and 6,500 s/f of office space in downtown. Upon completion, the 260 class A units will offer the best in market amenity package, including a swimming pool, business center, fitness center and community room. UC Funds experienced team employed its vast structuring knowledge and experience to structure this unique transaction and tapped the buildings multi-million dollar historical tax credits setting the stage for a viable and successful transaction. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? UC Funds provided over $200 million of adaptive reuse conversion capital in 2015 as UC Funds continues to be the most sophisticated financial ally for middle market ground up development and opportunities in downtown urban areas, catering to millennials that want to “live, work and play” in proximity. Also, in Charleston, South Carolina, the UC Funds team funded $14 million to purchase and convert a historic 10-story, 398,647 bed former naval hospital, into a to class A office space, to house government offices, health care services, business office and retail space. How will you be supercharging your productivity in 2016? The continued growth of the firm into new markets along with the recent opening of local offices in New York City, NY and soon in Miami, FL and Atlanta, GA in the first quarter of 2016 will provide UC Funds the opportunity to enhance its presence in these local markets, as well as nationally and continue to demonstrate to our clients UC Funds competitive advantages which include; speed, creativity, reliability, service, expertise, and entrepreneurship. The new offices, as well as, benefiting from our repeat relationships, aids in UC Funds being a loyal sophisticated financial ally.  No other group in the country offers a “One Stop Shop” of all products for middle market sponsors as quickly and reliably as UC Funds. What emerging trends will drive investment and development in 2016? Job growth and a continuing recovering economy will continue to fuel development. For example, in Malta, New York, UC Funds a $13 million ground-up construction equity investment to develop a vacant parcel of land into a 292-unit, Class AAA multifamily property spanning 16, two and three-story buildings with high-end layouts, finishes and fixtures. The property features a best-in-market amenity package including a swimming pool, spa, fitness center and juice bar. Malta is a suburb situated 20 miles north of Albany, directly off I-87. According to the 2015 CRE Finance Council Market Outlook Survey which is designed to gauge the commercial real estate finance industry across a variety of topics the outlook for 2016 is for continued growth in private non-bank lending as an alternative to traditional lenders for entrepreneurial sponsors.  Multi-family assets continue to be a strong asset class for investors and lenders alike, in fact drivers such as demographic shifts, supply and demand, availability of financing, low vacancy rates, and stability are among some of the factors that will continue to drive investment in this sector in 2016.
Thanks for Reading!
You've read 2 of your 3 guest articles
Register and get instant unlimited access to all of our articles online.

Sign up is quick, easy, & FREE.
Subscription Options
Already have an account? Login here
Tags:

Comments

Add Comment