Boston, MA UC Funds introduced one of the lowest rate, most competitive commercial mortgage products available in commercial real estate. UC Funds’ new UC GO non-recourse commercial mortgage bridge loan is now available at 85% loan to value (LTV) and 0.5 debt service coverage ratio (DSC). The variable rate product, which starts at LIBOR +375, is available for loans as little as $5 million.
“In the current environment, commercial real estate developers and owners will love UC GO because of its extreme competitiveness and non-bank restrictions and contingencies,” said Dan Palmier, president and CEO of UC Funds. “Many projects which began right after the recession are now cash flowing and able to meet our reduced debt service at an LTV that provides for a wide range of future refinancing options and alternatives. In that regard, UC GO completes UC Funds’ portfolio of commercial real estate products across a broad spectrum of needs and uses, a one-stop shop for commercial real estate financing. UC GO further allows us to provide tools that will help customers through each aspect of their product’s lifecycle, from construction loans through permanent financing.”
Using UC Funds’ back-end technologies and a team of analysts and underwriters, borrowers can expect term to closing in an average of 30 days. UC Funds’ infrastructure and thorough project-vetting approach also allows for higher reliability with 90% of applications being approved.
In today’s tight lending environment, UC GO’s approval, speed, and flexibility in financing is critical for developers to ensure that their assets stay stable with this new avenue for loan term reduction.
“For investors, UC GO offers the superior returns of equity with the lower risk of debt,” said Palmier. “The program starts with an initial $1 billion of capitalization from both UC Funds itself and outside institutions, as well as real estate developers who are past UC Funds borrowers. Their investments speak volumes about UC Funds’ expertise, relationships, and integrity in real estate financing and our ability to create attractive returns that complement those of development. We’ve already received an overwhelming number of inquiries.”
While most commercial mortgage products provide between 60 and 75% LTV, UC GO is able to provide an 85% LTV. UC GO’s 0.5 DSC is twice as competitive as similar products on the market.
Founded in 2010 by Palmier, UC Funds is a vertically integrated commercial real estate specialty finance firm that originates, structures, underwrites, and asset manages its estate investments. A national balance sheet provider of both debt and equity capital solutions, UC Funds has provided over $1 billion of capital solutions to date. UC Funds offers quick and customized financial solutions throughout the entire capital stack, including joint venture equity. One of the nation’s most entrepreneurial lending institutions, UC Funds focuses on multifamily, retail, office, hotel, industrial/warehouse, adaptive reuse, and construction assets nationwide. The firm has developed strong relationships with past and current borrowers through their renowned customer service, creativity, speed, and reliability.
