UC Funds ramps up momentum with another UC GO deal
We are pleased to share another UC GO deal! A fast and flexible $8.5 million UC GO first mortgage loan is being used to acquire and renovate Carter Park Apartments in Fort Lauderdale, Florida. The 96-unit Carter Park Apartments are located at 700-745 NW 14th Terrace in Fort Lauderdale, Florida and includes one studio and 95 two bedroom apartments and features an on-site laundry facility and 120 parking spaces. Our fast and flexible capital allowed the sponsors to quickly close the deal.
The 4.84-acre property is centrally located to the largest employers in the Fort Lauderdale area, Tenet Healthcare and American Express. One of the top 10 largest health systems in the United States, Broward Health operates a premier Level 1 Trauma Center hospital, Broward Health Medical Center (BHMC), just 3.4 miles away. The complex is within miles of Fort Lauderdale’s best attractions including the AAA, 4-diamond Seminole Hard Rock Hotel and Casino that features a full casino and gambling experience, over 20 restaurants and five night clubs and a nearby 100+ store shopping destination, The Galleria at Fort Lauderdale.
With the steady growth of median household income over the last seven years in the area, it’s clear to see the Broward County market is only trending upward. Utilizing the sponsors’ extensive experience in the Broward County market and the speed and flexibility of our UC GO product, this partnership is sure to be a success. We look forward to seeing these promising renovations reach completion and to grow our ongoing relationship with the sponsors in this growing southern market.