UC Funds, a Boston-based specialty finance company focused on commercial real estate investments, is expanding its presence in Stamford through the $40 million acquisition of the new Residence Inn by Marriott, a 156-key hotel that is under construction and is scheduled to open this winter. The new acquisition is UC Funds’ second lodging property in Stamford – in August 2016, the company paid $26 million for the Courtyard Marriott, a 115-key hotel at 275 Summer St.
UC Funds has also announced that it originated a $28 million first mortgage to refinance the Park Square West Apartments, a 143-unit multifamily development at 101 Summer St. in downtown Stamford. The mortgage is the first in UC Funds’ Low Floater Program, which offers more than $1 billion in available capital for direct lending.
“We have committed over $100 million in the last year in one of the best cities in America,” said Daniel Palmier, CEO of UC Funds.