Wells Fargo Provides $64.5M Construction Loan For Wilmington Multifamily Project

The multifamily property located at 9847 Sidbury Rd in Wilmington, NC has recently undergone a transaction. The property consists of 299 units and is owned by Banyan Residential, represented by Ben Brosseau. The loan for this transaction was provided by Wells Fargo, with a loan amount of $64,500,000. The loan type is construction, indicating that it was used to finance the development or renovation of the property.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $64,500,000
• Units: 299
• Address: 9847 Sidbury Rd, Wilmington, NC
• Market: Wilmington, NC
• Lender: Wells Fargo
• Landlord: Banyan Residential - Ben Brosseau
• Loan Type: Construction

This transaction involved key individuals and companies, including Banyan Residential as the owner and Ben Brosseau as their representative. Wells Fargo acted as the lender for the loan. It is worth noting that the loan amount of $64,500,000 indicates a significant investment in the construction of this multifamily property.