UC Funds cuts the ribbon for Residence Inn Stamford Downtown, the city’s first extended-stay lodging
Stamford, CT – December 6, 2018 – UC Funds, a vertically-integrated commercial real estate specialty finance firm, announces the ribbon cutting for its new Residence Inn Stamford Downtown, located at 25 Atlantic Street in Stamford, Connecticut. It is the first hotel in Stamford to offer extended-stay lodging and serves as Downtown Stamford’s only all-suite property.
Daniel Palmier, Founder and CEO of UC Funds, and David Martin, Mayor of Stamford, will cut the ribbon at Residence Inn Stamford Downtown today, December 6, at 11 a.m. The ceremony will also include remarks by Mayor Martin and Palmier, along with a champagne toast.
UC Funds acquired the asset in April 2017, after stalled construction from its previous owner caused the site to sit untouched for two years. UC Funds immediately set upon an accelerated construction timeline to finish the project. The eight-story, 156-key hotel opened its doors November 21, 2018. This Marriott-franchised hotel is managed by Urgo Hotels & Resorts.
“We’re honored to celebrate the opening of Residence Inn Stamford Downtown after nearly two years of collaboration with the Marriott and Urgo organizations,” said Palmier. “The hotel provides a new anchor for the community and we expect the extended-stay offering to have a major impact on Stamford’s continuing revitalization as a bedroom community for Manhattan and gateway to New England.”
UC Funds quickly expanded its Stamford portfolio, having acquired the adjacent Courtyard Stamford Downtown in 2016. The Residence Inn construction marks the latest move in the firm’s total capital commitment in excess of $100 million in Downtown Stamford and fulfills the growing demand for downtown lodging among business travelers throughout the Northeast.
“The Residence Inn in Downtown Stamford will provide a unique lodging opportunity for both corporate and leisure travelers to Stamford,” said Mayor Martin. “These accommodations are a successful example of how Stamford’s business environment continues to thrive.”
The new Residence Inn features luxury apartment-style accommodations and over 2,000 square feet of meeting and event space, ideal for corporate travelers searching for sophisticated Manhattan-style lodging in a central location. The hotel also boasts a state-of-the-art fitness center, a mezzanine level outdoor bar, and a patio area. A tapas-style restaurant and tequila bar located in the lobby provides the ONE CLUB brand’s signature high-end service for guests and visitors.
The hotel lies 30 miles outside New York City and is within walking distance of the Metro North railway station. It also sits within a three-block radius of Downtown Stamford’s many restaurants and attractions.
“The new Residence Inn will attract guests who have spending power and will patronize restaurants and shops in the downtown area, generating revenue for Stamford’s local businesses,” said Kevin Urgo, Principal and Managing Partner at Urgo Hotels & Resorts. “There is no doubt that UC Funds’ investment will act as a catalyst for other investors and make the area a more attractive option for residents and businesses alike.”
Palmier partnered for the second time with DES-SYN’s Jillian Pritchard Cooke to capture UC Fund’s upscale ONE Club brand and design, balancing natural light with hard surfaces to create a welcoming color scheme throughout the hotel. This design was most recently used in UC Funds’ acquisition and redevelopment of ONE Club Gulf Shores in Gulf Shores, Alabama.
Palmier and Pritchard Cooke collaborated closely to develop a synergetic design for all guest rooms and common areas, using space and visual points to create an atmosphere with panache but conducive to relaxation. Pritchard Cooke’s DES-SYN team also incorporated their signature sustainability, keeping health standards a top priority, avoiding toxins, and ensuring all products emitted little or no gas.
The Residence Inn offers studio, one-bedroom, and two-bedroom suites and features a two-story ceiling, a baby grand player piano, and a fireplace. Other amenity highlights include complimentary Wi-Fi, a whirlpool spa, a 2,000-square-foot 24-hour fitness center, and a 24-hour market with on-the-go food, beverages, and snacks.
“The hotel is very attractive, in a beautiful location right in the heart of downtown. The economic benefit is huge,” said Sandy Goldstein, President of the Stamford Downtown Special Services District. “Dan Palmier has been an incredible community partner. It has to be in your DNA to know that it’s important to be a part of the community and quite clearly Dan knows that.”
For information on the Residence Inn ribbon cutting ceremony please email eosborn@gregoryfca.com or call 212-288-1237. For booking inquiries, call the Residence Inn Downtown Stamford at
203-564-5000.
About UC Funds
Founded in 2010 by Dan Palmier, UC Funds is a vertically integrated commercial real estate specialty finance firm that originates, structures, underwrites, and asset manages its estate investments. A national balance sheet provider of both debt and equity capital solutions, UC Funds has provided over $2 billion of capital solutions to date. UC Funds offers quick and customized financial solutions throughout the entire capital stack, including joint venture equity. One of the nation’s most entrepreneurial lending institutions, UC Funds focuses on multifamily, retail, office, hotel, industrial/warehouse, adaptive reuse, and construction assets nationwide. The firm has developed strong relationships with past and current borrowers through their renowned customer service, creativity, speed, and reliability. In July 2017 UC Funds announced the launch of their industry leading non-recourse commercial mortgage bridge loan, UC GO. This is the most transformative and competitive commercial mortgage product available in commercial real estate. UC GO is now available at 85 percent loan to value and 0.5 debt service coverage ratio. The variable rate non-recourse product, which starts at LIBOR +275, is available for loans as little as $5 million. To apply for UC GO financing, please contact Domenico Manago, Managing Director of Sales, at 857-288-2811 or email Dmanago@ucfunds.com. For more information on UC Funds, visit www.UCFunds.com or https://danielpalmier.ucfunds.com/.
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