X-Caliber Rural Capital And CastleGreen Finance Close $32M Refinance Loan For Multi-Tenant Medical Space In Milford, DE

An office building located at 21 W Clarke Ave in Milford, DE has recently been involved in a closed transaction. The property, spanning 264,000 square feet, was the subject of a refinancing deal.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $32,000,000
• Lender: X-Caliber Rural Capital - Anna West & CastleGreen Finance - Scott Crimmins
• Landlord: Nationwide Healthcare Services

X-Caliber Rural Capital and CastleGreen Finance, both affiliates of X-Caliber Capital, facilitated the $32.2MM combined C-PACE/USDA refinance of the office building. The deal included a $25MM USDA loan, used to refinance existing debt and provide capital for future tenant improvements. The Business & Industry loan program was utilized for this purpose. Additionally, a $7.2MM C-PACE financing arrangement was put in place to bring significant energy efficiency enhancements to the property, resulting in annual energy and maintenance cost savings for the borrower and reduced emissions for the environment. Scott Crimmins, the Senior Vice President of CastleGreen's SE Region, spearheaded the transaction, while Anna West, the Executive Managing Director of X-Caliber Rural Capital, facilitated the USDA loan.

For assistance with your own project, you can reach out to CastleGreen Finance at [email protected] or X-Caliber Rural Capital at [email protected].