UC Funds closes 11th UC GO loan for Georgia multifamily property
Another one in the books. Our most recent UC GO transaction (and tenth deal overall this year) was a $4.1 million loan for the acquisition, rebranding, and renovation of Woods at Decatur.
Formerly known as Laurel Mills, Woods at Decatur is a 10-building, 99-unit multifamily property located in Decatur, Georgia, an immediate suburb of Atlanta. After acquisition, the borrower plans to overhaul the property, conduct interior renovations for 40 units, install enhanced security measures, improve operations, update property exteriors, and add resident amenities. The owner will also rehabilitate and restore nine down units back to living standards.
We have a long history of doing deals in Atlanta, and the region has strong economic and population growth fundamentals. The apartment complex is located in a bustling suburb of Atlanta and is located only minutes from the popular Gallery at South DeKalb retail center and Perimeter College at Georgia State University.
UC GO has proved to be one of our most popular products around the country, and we are on track to close 30 deals across all of our products in 2018. Watch this space in the next few weeks for even more deal closings to be announced.