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Buccini Pollin Group Secures $44.24M Refinance Loan For Multifamily Asset In Wilmington DE

Property Image
FINANCED
$44,241,000

Delaware

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MultiFamily448,734 SF
Financed 09/12/2024
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Property Image
FINANCED

Buccini Pollin Group Secures $44.24M Refinance Loan For Multifamily Asset In Wilmington DE

902 North Market Street

See Similar Deals
MultiFamily448,734 SF
Financed 09/12/2024

Summary

DELAWARE
Asset Type:MultiFamily
Price Per Square Foot:$98
Total Square Footage:448,734 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 902 North Market Street in Wilmington, DE. It comprises 280 units and has a total square footage of 448,734. The financing for this property was executed through a refinance loan totaling $44,241,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $44,241,000
  • Units: 280
  • Square Footage: 448,734
  • Address: 902 North Market Street
  • Market: Wilmington, DE
  • Lender: Aaron Krawitz - Bravo Capital
  • Landlord: Buccini Pollin Group, Inc.
  • Broker: Morris Betesh & Alex Bailkin - Arrow Real Estate Advisors

Key individuals involved in this transaction include Aaron Krawitz, who represented Bravo Capital as the lender. The landlords of the property are Buccini Pollin Group, Inc., while the brokerage services were provided by Morris Betesh and Alex Bailkin from Arrow Real Estate Advisors, highlighting the expertise and collaboration in facilitating this refinance deal.

Details

FINANCED
IMAGE: Aaron Krawitz, Morris Betesh & Alex Bailkin DATE: 09/12/2024 ADDRESS: 902 North Market Street MARKET: Wilmington, DE ASSET TYPE: Multifamily ~ UNITS: 280 ~ SF: 448,734 LENDER: Aaron Krawitz - Bravo Capital LANDLORD: Buccini Pollin Group, Inc. BROKER: Morris Betesh & Alex Bailkin - Arrow Real Estate Advisors LOAN AMOUNT: $44,241,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$44,241,000.00

Monthly NOI$294,940.00
Monthly Debt Service$279,633.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00