BMO Provides $35.5 Million Refinance Loan To Douglas Development For 222 Delaware Avenue Office
FINANCED
$35,500,000
Delaware
See Similar DealsOffice249,799 SF
Financed 11/06/2024
FINANCED
BMO Provides $35.5 Million Refinance Loan To Douglas Development For 222 Delaware Avenue Office
222 Delaware Avenue
See Similar DealsOffice249,799 SF
Financed 11/06/2024
Summary
DELAWARE
Asset Type:Office
Price Per Square Foot:$142
Total Square Footage:249,799 SF
Transaction Type:Loan
The asset involved in the transaction is an office property located at 222 Delaware Avenue in Wilmington, DE, encompassing a total square footage of 249,799. The loan amount secured for this property is $35,500,000, classified as a refinance loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $35,500,000
- Lender: BMO
- Landlord: Douglas Development
- Brokers: Cary Pollack & Judah Neuman - Meridian Capital Group
The key individuals in this transaction include Cary Pollack and Judah Neuman, who represent the landlord in this deal. They are affiliated with Meridian Capital Group, further underscoring their role in facilitating this refinance transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,500,000.00
Monthly NOI$236,666.67
Monthly Debt Service$224,384.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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