UC Funds, a specialty finance firm that originates, structures, underwrites, and asset-manages commercial real estate investments, has introduced its new UC GO non-recourse commercial mortgage bridge loan program.
According to UC Funds, UC GO is the lowest-rate, most competitive commercial mortgage product available in the industry today. Loans are available at 85% loan to value (LTV) and 0.5 debt service coverage ratio (DSC). The variable-rate, non-recourse product, which starts at LIBOR +350, is available for loans as little as $5 million.
“Many projects which were funded right after the recession are now cash-flowing and able to meet our reduced debt service at an LTV that can provide for a wide range of future refinancing options and alternatives,” explains Dan Palmier, president and CEO of UC Funds. “In that regard, UC GO completes UC Funds’ capital solutions for commercial real estate products across a broad spectrum of needs and uses.”
The company says borrowers can expect the loan process to be about 30 days, from delivery of the term sheet to closing.