D2 Capital Advisors Arranges $23.5 Million Loan For Residence Inn Development In Wilmington DE

The property involved in this transaction is a new Residence Inn by Marriott located at 984 Centre Road in Wilmington, DE. The asset is characterized as a hotel with 127 keys, encompassing a total of 90,000 square feet. The loan amount secured for the development is $23,500,000, designated for construction purposes.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $23,500,000
• Loan Type: Construction
• Address: 984 Centre Road
• Market: Wilmington, DE
• Keys: 127
• Square Footage: 90,000
• Lender: WSFS & Nuveen Green Capital
• Landlord: MRA Group & Gulph Creek Hotels
• Brokers: Jack Cortese & David Frankel - D2 Capital Advisors

D2 Capital Advisors played a key role in arranging the loan for this project, which is being developed by CRISP Hotel Partners LLC, a joint venture between MRA Group and Gulph Creek Hotels. MRA Group is recognized as a leading developer of life science campuses, while Gulph Creek Hotels has demonstrated expertise as a hospitality developer and operator.