UC Funds Adaptive Reuse Project in Atlanta
$37 million funding will support office to multifamily conversion with retail component
ARDMORE, PA, UNITED STATES, December 22, 2022 /EINPresswire.com/ — UC Funds $37 million capital solution for an adaptive reuse project in downtown Atlanta. Once complete, the project will feature 165 Class A multifamily units and 20,000 square feet of retail and commercial space. UC Funds structured the capital to accommodate $15 million in subordinate historic tax credits and PACE investments. This transaction highlights UC Fundsâ€™ expertise in providing creative capital solutions for complicated capital stacks as well as expertise in adaptive reuse project financing.
â€œThis project demonstrates our expertise in understanding adaptive reuse projects that contain intricate structures including federal and state tax credits, as well as, PACE funds. Upon completion, this mixed-use project will be 100% leased under a master lease to Sonder, a national apartment-hotel operator,â€� said Dan Palmier, President and CEO of UC Funds.
About UC Funds: Providing over $3 billion of capital solutions, UC Funds is a vertically integrated, one-stop shop for commercial real estate capital solutions and has earned a national reputation for being the industryâ€™s most sophisticated financial ally.
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