Jason Thomas – October 17, 2024
CH Realty Partners LLC has secured a $50M loan to refinance a 150,000 sq. ft. manufacturing facility in Union, SC, supporting MycoWorks’ mycelium-based sustainable production. This state-of-the-art facility, built in 2023, uses AI and robotics to automate 80% of production, generating over 350 jobs. The refinancing helps optimize capital and positions CH Realty in the Greenville-Spartanburg market, fostering local economic growth and reshoring luxury textile production.
A manufacturing facility housing a process unique to the biotech industry has been refinanced, setting the stage for further expansion.
CH Realty Partners LLC, a real estate development and investment firm, has secured a $50 million loan to refinance its 150,000-square-foot industrial facility in Union, according to a news release. The facility, 260 Midway Drive, was a build-to-suit designed for MycoWorks, a pioneer in mycelium technology for sustainable manufacturing.
The transaction underscores CH Realty Partners’ commitment to support the growth of innovative biotech companies, the release stated. The facility is a crucial production hub for MycoWorks, known for its revolutionary use of mycelium — a mushroom-based material. The firm’s proprietary Fine Mycelium platform has enabled a new class of premium, non-animal materials that are the next evolution in mycelium.
Built in 2023, the facility’s design and location on 25 acres are tailored to MycoWorks’ manufacturing needs, providing state-of-the-art production capabilities, and enhancing the company’s presence in the region, the release stated. The refinancing with 3650 Capital will enable CH Realty Partners to optimize the capital structure of the property, ensuring long-term support for MycoWorks as it continues to expand its production capacity.
