UC Funds closes their latest UC GO loan with the refinancing of Wyndham Garden Greenville in Greenville, South Carolina
Greenville, SC – February 12, 2018 – UC Funds, a vertically-integrated commercial real estate specialty finance firm, announced today the closing of a $6.85 million first mortgage loan for the refinancing of the 139-key Wyndham Garden Greenville hotel, a 2.2 acre property, located at 47 Fisherman Lane in Greenville, South Carolina.
UC Funds utilized their new commercial mortgage bridge loan UC GO to refinance the deal. Launched in July 2017, UC GO is the lowest rate, most competitive commercial mortgage product available in commercial real estate today. The non-recourse loan is available at 85 percent loan to value (LTV) and 0.5 debt service coverage ratio (DSC).
“Over the last five years, the Greenville community has grown exponentially through its tourism and bustling economy,” said Daniel M. Palmier, President and CEO of UC Funds. “This growth in combination with the property’s location in the vicinity of strong corporate demand drivers such as BMW and Michelin, made this an ideal opportunity for us.”
Built in 1993, the asset operated as a Hampton Inn & Suites until 2013. In 2014, the hotel was converted to a Quality Inn, and was ultimately transformed into the Wyndham Garden Greenville in 2015. One of Wyndham’s higher-end offerings, the hotel features a full bar on the ground level and will provide food and beverage services. Other amenities include an outdoor pool, fitness center and meeting room. The hotel sits within three miles of the Greenville-Spartanburg International Airport (GSP) and is less than 150 miles from Atlanta, Georgia.
Providing over $2 billion of capital solutions to date, UC Funds is known as the “go to” commercial real estate capital provider and the most sophisticated financial ally in the industry. Their team is dedicated to developing and maintaining long-term relationships with borrowers, and the company has earned a strong reputation for providing extensive reliability, standing by borrowers through completion. Those interested in learning more about UC Funds can visit www.UCFunds.com.
About UC Funds
Founded in 2010 by Daniel M. 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. The variable rate non-recourse product, which starts at LIBOR +350, 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/.