Updated May 15, 2025
Buccini Pollin Group Secures $50 Million Construction Loan From Glacier Credit Partners In Newark DE
101 Discovery Boulevard
$50,000,000
$50,000,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Apr 9, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 101 Discovery Boulevard in Newark, DE. The loan amount for this construction project is $50,000,000, which positions this asset within a significant category in the market.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Lender: Glacier Credit Partners
- Landlord: Buccini Pollin Group
- Landlord's Representative: Morris Betesh & Alex Bailkin - Arrow Real Estate Advisors
- Loan Type: Construction
The deal involves key representatives from Arrow Real Estate Advisors, specifically Morris Betesh and Alex Bailkin, who represent Buccini Pollin Group in this transaction. Their roles highlight the collaborative effort among experienced professionals in facilitating significant real estate financial arrangements.
On the Map
$50,000,000
$50,000,000/SF
MultiFamily
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Players
Newark 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93