Valley Bank Provides $45M Refinance Loan For Wilmington Multifamily Property

The multifamily property located at 517 Shipley Street in Wilmington, DE has undergone a refinancing transaction. The property spans an area of 280,000 square feet and consists of 203 units. The transaction was facilitated by the brokerage firm Meridian Capital Group, with Morris Betesh and Alex Bailkin representing the buyer and seller.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $45,000,000
• Address: 517 Shipley Street, Wilmington, DE
• Market: Wilmington, DE
• Landlord: Buccini Pollin Group
• Lender: Valley Bank

This refinance deal was carried out through a loan provided by Valley Bank. The landlord, Buccini Pollin Group, sought to optimize their existing financing arrangement. Morris Betesh and Alex Bailkin, representing Meridian Capital Group, successfully completed the transaction as brokers.