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1007 North Orange Street

Updated Nov 27, 2024

Deutsche Bank Provides $69M Refinance Loan For Multifamily Property In Wilmington, DE
FINANCEDMultiFamily

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

Morris Betesh

Arrow Real Estate Advisors

Broker

$14.3B

vol

241 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
Deutsche Bank
Deutsche BankLender

Wilmington MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $125.5K per square foot on a published $69M for 550 square feet (2022).

Visit Morris Betesh to view all their deals.

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

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