With the Fourth of July just days away, I’m happy to announce that UC Funds has succeeded in continuing our time honored tradition of closing four major deals just in time for the holiday. While others might be spending their days on the beach or by the pool, we’re still hard at work, as focused as ever on the business needs of our clients.
We began our mission to close four major deals this week, starting with a $5.6 million first mortgage loan provided for Parkside Apartments in West Palm Beach, Florida. We then moved on to an additional opportunity, providing a $19.5 million first mortgage loan to medical offices in Houston, Texas. Next came another first mortgage loan, in the amount of $10.65 million, which was originated for the redevelopment of a vacant four-story building with an adjacent one-story warehouse located in Dobbs Ferry, New York.
To really get the fireworks going, we finished with our fourth deal, the $40 million acquisition and renaissance project of the Residence Inn by Marriott in Stamford, Connecticut. This asset contributes to UC Funds’ overall $100 million commitment to downtown Stamford.
The UC Funds team is inspired by the spirit of America’s founding fathers, and we recognize the values and hard work of clients. This is why we make sure to celebrate their accomplishments with our Four on the Fourth tradition. Closing four deals is a great way for our team and clients alike to kick off the July 4th festivities.