Updated Mar 4, 2026
Concordia Properties Obtains $97.5M Bridge Loan For Multifamily Portfolio In DE, NJ, And PA
3400 Miller Road, Wilmington, Delaware 19802, United States
$97,450,000
$154/SF
Building Size
630,000 SF
Asset Type
MultiFamily
Closing
Feb 16, 2022
About this deal
AI
The multifamily property located at 3400 Miller Road, 309 West Brooke Avenue, 95 Heights Lane, 400 East Street Road, and 387 Plaza Boulevard has been involved in a closed transaction. The property encompasses a total of 630,000 square feet and consists of 636 units. It is situated in the markets of Wilmington, DE, Magnolia, NJ, Feasterville, and Morrisville, PA.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $97,450,000
- Loan Type: Bridge Loan
The transaction was facilitated by Concordia Properties as the landlord. The broker representing the deal was Steven Vegh from Westwood Realty Associates.
Players
Wilmington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Steven Vegh to view all their deals.
Browse Delaware multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93