Finance X Missouri

UC Funds closes $6 million first mortgage loan for St. Louis apartment development

UC Funds closes $6 million first loan for St. Louis apartment development,ph01

UC Funds closed a $6 million first mortgage loan for the acquisition and renovation of Windham Chase Apartments, a 218-unit multifamily property at 12401 Horizon Village Drive in St. Louis.

Built in 1972, Windham Chase Apartments features a swimming pool, sundeck, basketball court, clubhouse, leasing office and ground-floor laundry rooms in each building. The loan will fund the sponsor’s acquisition of the property and significant renovations to recover 37 units that haven’t been operating because of water damage.

Windham Chase consists of 22 two- and three-story buildings on a 12.1-acres ite in the Spanish Lake neighborhood of northern St. Louis.