BankUnited Has Provided Nearly $60 Million in Loans to Unicorp
since April
MIAMI LAKES, Fla.--(BUSINESS WIRE)--Jan. 3, 2013--
BankUnited (NYSE: BKU) today announced several new loans to
Orlando-based Unicorp National Developments, Inc., one of the
fastest-growing retail, mixed-use and drug store developers in the
country.
In November, BankUnited closed a $21 million loan to Unicorp-related
company Maguire Roberson, LLC, for the construction of Casa Mirella
Apartments, a 216-unit luxury apartment property located in Ocoee, Fla.
In December, BankUnited provided loans to Unicorp including a $4.3
million loan to refinance a Walgreens in Jacksonville, and $3.6 million
to refinance a CVS in Orlando.
Since April of 2012, BankUnited has provided nearly $60 million in loans
to Unicorp.
BankUnited’s Patrick Fitzgerald, vice president of commercial real
estate in Orlando, worked with Unicorp President Chuck Whittall to
arrange construction financing as well as long-term financing with more
attractive terms than Unicorp’s existing financing, resulting in
significant savings to the company.
Additionally, BankUnited delivered a treasury management platform for
Unicorp’s property operating accounts, which resulted in improved
efficiencies in the cash management cycle and additional cost savings.
“BankUnited is enthusiastic about our robust lending to Orlando-area
businesses and our role in stimulating the rebounding economic
conditions we are beginning to see throughout Florida,” said Nic Bustle,
senior executive vice president, corporate and commercial banking. “We
are pleased to be able to work with Chuck Whittall to provide the
financing that will enable Unicorp to continue to develop quality
properties nationwide.”
BankUnited (NYSE: BKU), headquartered in Miami Lakes, Fla., provides a
wide range of commercial and consumer banking services to businesses and
consumers in 15 Florida counties through more than 95 branches. For
additional information, call (877) 779-2265 or visit www.BankUnited.com.
Source: BankUnited
For BankUnited
Amy Hoffman, ext. 228
ahoffman@piersongrant.com
Maria
Pierson, ext. 222
mpierson@piersongrant.com
954-776-1999
or
Mary
Harris, 305-817-8117
MHarris@BankUnited.com
