Arrow Real Estate Advisors Arranges $70M for Delaware MF Development
Arrow Real Estate Advisors arranged a $70.25 million loan on behalf of The Buccini Pollin Group for The Press, a newly delivered luxury multifamily property located at 801 N Orange Street in Downtown Wilmington, Delaware.
The financing was arranged by Arrow’s Morris Betesh, Founder and Managing Partner, and Alex Bailkin, Senior Vice President, and provided by HPS/BlackRock. “We were pleased to secure a financing solution with HPS/BlackRock that aligned with the sponsor’s objectives and supports one of the most significant multifamily developments delivered in the Greater Philadelphia region in recent years,” said Betesh.
Developed by The Buccini Pollin Group, The Press is located within Wilmington’s central business district. The property provides residents with direct access to the city’s growing collection of dining, retail, entertainment, and employment destinations. The property features a glass façade, floor-to-ceiling windows, premium interior finishes and a best-in-class amenity package.
Other News
Truist Closes Construction Loan for Long Beach Multifamily
Truist recently closed a $152-million construction loan for Marina Shores, a 390-unit multifamily community at 6615 E. Pacific Coast Hwy. in Long Beach. The project is being developed by Carmel Partners. The six-story project will transform an aging office complex and surface lot into a mixed-income community with approximately 5,400 square feet of ground-floor retail...
Learn more
Merchants Bank Retains CBRE to Market Fee Interest in Midtown Residential Property
CBRE has been retained by Merchants Bank to market for sale the fee interest in 19 W. 55th St., a vacant, nine-story residential property with continuous retail frontage in Midtown Manhattan. CBRE’s Daniel Kaplan was appointed by the bank to spearhead the sale. “Opportunities to acquire the fee interest of an asset in this premier...
Learn more
Logos Faith Development Expands into San Diego Market
Logos Faith Development, in partnership with San Diego’s Logan Temple AME Zion Church, commemorated the official groundbreaking on Logos Logan Legacy Place at the project site. The 43-home affordable housing community is located at 3186 and 3190 Franklin Ave. in San Diego’s Logan Heights neighborhood. The project marks the affordable housing developer’s expansion into the San Diego...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout