UC FUNDING ORIGINATES $11M LOAN FOR RIVERSIDE PLAZA
ALGONQUIN, ILL. — UC Funding has originated and structured an $11 million bridge loan for the construction of Riverside Plaza, a 63-unit, Class A apartment development in downtown Algonquin. When completed, each unit will feature hardwood floors, Italian cabinetry and porcelain tiling. Amenities at the community will include a fitness room, business center, clubroom, lobby doorman service, two elevators, storage lockers and heated indoor parking. Algonquin is located 45 miles northwest of Chicago. UC Funding is a national balance sheet provider of capital solutions involving both debt and equity. The Boston-based firm has closed more than $700 million in real estate investments during the last 18 months.