Updated Nov 27, 2024
Deutsche Bank Provides $69M Refinance Loan For Multifamily Property In Wilmington, DE
1007 North Orange Street
$69,000,000
$125,454/SF
Building Size
550 SF
Asset Type
MultiFamily
Closing
Jun 24, 2022
About this deal
AI
A multifamily property located at 1007 N. Orange Street in Wilmington, DE has recently undergone a refinancing transaction. The property spans approximately 550 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $69,000,000
- Address: 1007 N. Orange Street, Wilmington, DE
- Market: Wilmington, DE
The lender for this refinance transaction was Deutsche Bank. Representing the Meridian Capital Group, Morris Betesh and Alex Bailkin acted as brokers in the deal.
The multifamily loan at 1007 North Orange Street in Wilmington, Delaware financed for $69M in 2022. The building is 550 square feet, implying about 125.5K per square foot on the published price. Morris Betesh, Alex Bailkin, Meridian Capital Group appear on the loan alongside Meridian Capital Group. This page is the Wilmington, Delaware file for the 1007 North Orange Street multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Wilmington sit in the Market section below. Filter that Wilmington multifamily set by closing date to see what else financed near 1007 North Orange Street around 2022. Published consideration for 1007 North Orange Street is $69M, dated 2022. Cite this Deutsche Bank Provides $69M Refinance Loan For Multifamily Property In Wilmington, DE loan when underwriting similar multifamily product around Wilmington, Delaware.
Players
Wilmington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93