MRA Group Secures $26 Million Refinance Loan For Life Sciences Project In Wilmington
FINANCED
$26,000,000
Delaware
See Similar DealsLife Sciences80,000 SF
Financed 12/30/2024
FINANCED
MRA Group Secures $26 Million Refinance Loan For Life Sciences Project In Wilmington
175 Innovation Blvd
See Similar DealsLife Sciences80,000 SF
Financed 12/30/2024
Summary
DELAWARE
Asset Type:Life Sciences
Price Per Square Foot:$325
Total Square Footage:80,000 SF
Transaction Type:Loan
The asset involved in this transaction is a recently completed lab and R&D building located at 175 Innovation Boulevard in Wilmington, DE. This life sciences project spans 80,000 square feet and has been developed by MRA Group, specializing in life science campuses. A loan amount of $26,000,000 has been secured for refinancing this state-of-the-art facility.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $26,000,000
- Lender: UBS
- Landlord: MRA Group
- Brokers: Jack Cortese & David Frankel - D2 Capital Advisors
- Loan Type: Refinance
D2 Capital Advisors played a crucial role in this deal by arranging the financing necessary for the property. Jack Cortese and David Frankel acted as brokers in this transaction, facilitating the overall process in the Wilmington market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,000,000.00
Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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