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Brokerage
Posted: August 27, 2012
UC Funding concludes two bridge loans-$9 million
UC Funding recently closed two bridge loans totaling $9 million.
UC Funding has closed a $2.9 million acquisition bridge loan for River Park Apartments, a 104-unit Class C apartment community. Over the last 12 months UC Funding has successfully funded nearly $100 million in the state of Florida, alone. Most of this smaller loan contained a substantial renovation component in order to bring apartment units online and refurbish others.
UC Funding has closed a $6.1 million dollar bridge loan on the property known as the Villas on Calloway, an apartment community located in Hurst, Tex., just outside the city of Fort Worth. The Villas on Calloway is located between the Dallas and Fort Worth Central Business Districts. Situated in the North Richland Hills neighborhood which consists primarily of middle class single and multifamily housing, as well as, supporting retail and commercial areas.
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