About Us

Union Capital is a leading commercial real estate lender specializing in conduit lending since the beginning of the industry in the early 1990’s. While some lenders prefer to offer a variety of loans to a Borrower, we believe being an expert in one loan type allows us to offer the best execution. If we believe a loan is better suited for a HUD or life company we will be quick to offer our opinion for alternate financing. Typically a borrower can count on higher loan proceeds and lower interest rates with conduit loans. Our approach has generated a lot of satisfied borrowers, as year after year over 70% of our loans are generated from previous clients.

Why do I want to deal with Union Capital?
We listen closely to insure that we understand each borrower’s needs. We make sure that the borrower understands what is possible with a conduit loan and where potential problems may arise. Then we work closely with our borrowers so that the loan quoted is the loan closed.

Aren’t conduit loans inflexible?
Since conduit loans are pooled together and sold in the secondary markets, they all have to be similar with regard to certain characteristics. However, Union Capital has been very successful in being able to fit borrower needs in the conduit framework. For example:

• Student Housing – This property type is difficult to finance in most cases. We have been successful in closing a wide variety of loans secured by student housing, including new construction, which typically has very high values for multifamily properties.
• Tax Credit Transactions – This is a multifamily type that is difficult to finance due to the rent restrictions. We have closed several portfolios of tax credit loans.
• IRP Loans with secondary (IRP) Financing – HUD makes available an interest rate subsidy program secured by a second mortgage on the property. Secondary financing is usually not allowed in conduit loans, but we have successfully funded many of them.
• Manufactured Housing Cooperatives – Known in Florida as Resident Owned Communities, the conversion of these properties from standard manufactured housing communities to cooperatives is extremely difficult to finance, as the historical rental rates are converted to reduced shareholder maintenance fees. Additionally, these loans require prepayment flexibility to allow for continued share sales. Union Capital has made a specialty out of ROC financing.
• Recreational Vehicle Parks – These are typically difficult to finance because RVs can move to another location very easily. Union Capital funds around 20 loans secured by RV parks every year.
• Pre-approved transfers for estate planning.

Don’t conduit loans take a long time to process and close?
Most loans are funded in 45 days to 60 days, depending upon the speed of the appraisers and other professionals involved in the transaction. However, the principals of Union Capital all have acquisition backgrounds, so they are mindful of deadlines. The $30,000,000 acquisition loan for The National Hotel in Miami Beach was closed in nineteen days including obtaining all new professional reports.