Riverwood Management Acquires Multifamily In Wilmington, DE For $4.7M

Located in Wilmington, DE, the recently closed multifamily transaction at 2509 Baynard Blvd and 312 West 8th Street has garnered attention in the real estate market. The property consists of 40 units, to which Riverwood Management has acquired ownership at a sale price of $4,700,000. With a price per unit (PPU) of $117,500, this acquisition presents a strategic investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,700,000

Riverwood Management, a prominent buyer in the transaction, now holds ownership of the multifamily asset. The brokers representing Riverwood Management in this deal were Bob DiPasquale, Corey Lonberger, Ken Wellar, and Mark Duszak from Rittenhouse Realty Advisors. Their expertise and negotiation skills played a significant role in bringing this deal to fruition.