CH Realty Partners secured a $50 million loan to refinance its 150,000-square-foot industrial facility in the Greenville-Spartanburg market. The facility, located at 260 Midway Dr. Union, South Carolina, was a build-to-suit designed for bio-tech company MycoWorks. The refinancing with 3650 Capital will enable MycoWorks to expand its production capacity.
The facility is a hub for MycoWorks, known for using mycelium, a mushroom-based material used to create leather alternatives. The firm’s proprietary Fine Mycelium platform has enabled a new class of materials that are the next evolution in mycelium.
Built in 2023, the facility’s design and location on 25 acres are tailored to MycoWorks’ unique manufacturing needs. The plant utilizes robotics, digital analytics, and artificial intelligence to automate 80% of its production process, providing high-quality material at a scalable level.
The facility provides over 350 jobs in the City of Union.
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