FINANCED
New York Community Bank Provides $53.7M Acquisition Loan For Colony Apartments In Wilmington, DE
Colony Apartments - 2-8 , 7 & 10-46 Colony Boulevard
MultiFamily
489,232 SF
489,232 SF
Financed 1 year ago
Summary
Loan
DELAWARE
MultiFamily
489,232 sqft
The Colony Apartments, located at 2-8, 7, and 10-46 Colony Boulevard in Wilmington, DE, has recently undergone a closed transaction. This multifamily property consists of 430 units with a total square footage of approximately 489,232. The transaction involved an acquisition loan from New York Community Bank.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,725,000.00
- Lender: New York Community Bank
The loan, with an amount of $53,725,000.00, was secured from New York Community Bank for the acquisition of the Colony Apartments. The loan type was an acquisition loan, with a 4% interest rate and multiple years of interest-only payments.
The brokers involved in this transaction were Jacob Schmuckler and Meir Schlusselberg from Meridian Capital Group, serving as representatives of the buyer or seller. Their expertise and negotiation skills played a crucial role in facilitating the deal.
Players
All
4
Agents
2
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Jacob Schmuckler & Meir Schlusselberg
DATE: 07/15/2022
ADDRESS: Colony Apartments - 2-8 , 7 & 10-46 Colony Boulevard
MARKET: Wilmington, DE
ASSET TYPE: Multifamily UNITS: 430 ~ SF: 489,232
LENDER: New York Community Bank
BROKERS: Jacob Schmuckler & Meir Schlusselberg (@MeirSchluss) - Meridian Capital Group (@Meridian.Capital.Group)
LOAN AMOUNT: $53,725,000.00.00
LOAN TYPE: Acquisition
LOAN TERMS: 4% with multiple years IOView on map
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AddressColony Apartments - 2-8 , 7 & 10-46 Colony Boulevard
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