GreenLake Funds $15,900,000 Construction Loan for SpringHill Suites by Marriott in Columbia, SC

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Aug 10, 2021, 08:53 ET

COLUMBIA, S.C., Aug. 10, 2021 /PRNewswire/ -- Los Angeles based GreenLake Asset Management LLC ("GreenLake") announced it has funded a $15,900,000 construction loan in Columbia, SC. The property will be a SpringHill Suites by Marriott hotel on Garners Ferry Road, due to open in late 2022.

GreenLake provided funds that will enable the borrower to build a 104 all-suite hotel and serve the local market as well as business from the University of South Carolina and Fort Jackson, one of the largest army training bases in the United States.

Peter Chang, Managing Principal at GreenLake stated, "We are excited to back a proven team with strong roots in the region, where they own and manage eight successful hotels. While traditional lenders remain hesitant to make new hospitality loans, GreenLake sees the opportunity to position a great product in a growing market."

Founded in 2008, GreenLake Asset Management LLC and its affiliates ("GreenLake") provide short-term commercial bridge loans nationwide. GreenLake offers creative, flexible and time-sensitive capital solutions for a broad spectrum of real estate special situations. GreenLake lends across a range of asset classes including hospitality, industrial, multi-family, self-storage and retail.

Contact:
Kamau Coleman
Director, Originations
626.529.1084
[email protected]
www.greenlakefund.com

SOURCE GreenLake Asset Management LLC