REBusinessOnline

Greystone Provides $26.6M Fannie Mae Refinancing Loan for Multifamily Property in Newark, Delaware

NEWARK, DEL. — Greystone has provided a $26.6 million Fannie Mae refinancing loan for Liberty Square, a 297-unit multifamily property in Newark, Delaware,, located approximately 45 miles southwest of Philadelphia. The loan carries a 10-year term with a 30-year amortization schedule, as well as interest-only payments for the first three years. Liberty Square is a garden-style apartment community with amenities including a pool, playground, tennis court and laundry facilities. Dan Sacks of …

Capano Residential Opens 264-Unit Multifamily Property in Middletown, Delaware

MIDDLETOWN, DEL. — Capano Residential, is a subsidiary of Capano Management, has opened The Reserve at Westown, a 264-unit luxury apartment community in Middletown, located approximately 30 miles northwest of Dover. The community offers farmhouse-inspired residential units in one-, two- and three-bedroom floor plans and amenities including a fitness facility, library and

Sprouts to Open 30,000 SF Grocery Store in Wilmington, Delaware

WILMINGTON, DEL. — Sprouts Farmers Market will open a 30,000-square-foot grocery store in Wilmington, located approximately 30 miles southwest of Philadelphia. The Arizona-based grocery chain offers organic produce, an expansive bulk foods selections and an extensive vitamin department. Located at 4727 Concord Pike, the new store will bring 140 full- and part-time jobs to the area. The opening is scheduled for March

CSC Acquires 43,000 SF Office Building in Wilmington, Delaware

WILMINGTON, DEL. — Business security firm Corporation Service Co. (CSC) has acquired the 43,000-square-foot PA Railroad office building in Wilmington, a southwestern suburb of Philadelphia, for $4.8 million. Located at 112 S. French St., the six-story building is situated adjacent to the Wilmington train station served by Amtrak and Southeastern Pennsylvania Transportation Authority. The building will be rebranded as CSC Station and will be repositioned to include a new two-story atrium, …

Evergreen Acquires 116-Unit River Commons Apartments in Wilmington, Delaware

WILMINGTON, DEL. — Evergreen Apartment Group Inc. has acquired River Commons Apartments, a 116-unit multifamily property in Wilmington, located approximately 25 miles southwest of Philadelphia. River Commons, which was redeveloped in 2004, offers two- and three-bedroom apartments with a community clubhouse. Andrew Townsend of Marcus & Millichap represented Evergreen in the transaction, the seller in which was not disclosed. Key Bank Real Estate Capital provided a Fannie Mae acquisition …

Greysteel Arranges $24.7M Sale of Multifamily Property in Newark, Delaware

NEWARK, DEL. — Greysteel has arranged the $24.7 million sale of The Vinings at Christiana, a 220-unit multifamily property in Newark, located approximately 40 miles southwest of Philadelphia. The property comprises a mix of one-, two- and three-bedroom units, 125 of which are reserved for tenants earning 60 percent or less of the area median income, while the remaining 95 are rented at market rates. Ari Firoozabadi and Henry Mathies of Greysteel represented the seller, Alden Torch Financial, …

Acts to Develop $70M Expansion of Seniors Housing Community in Greenville, Delaware

GREENVILLE, DEL. — Acts Retirement-Life Communities will soon begin a $70 million expansion project at Country House, a seniors housing community in Greenville, located southwest of Philadelphia. The project will add 20 cottage homes, 55 apartments and a clubhouse to the community. The first phase of the three-year project, construction of the cottage homes, is scheduled to begin before the end of this month. The second phase of the project includes construction of the apartments and …

Walker & Dunlop Arranges $18M Construction Loan for Multifamily Development in Lewes, Delaware

LEWES, DEL. — Walker & Dunlop has arranged an $18 million construction loan for a multifamily development in Lewes, located approximately 40 miles southeast of Dover. An undisclosed regional bank provided the loan. The property consists of seven separate buildings, two of which are condominiums with ground-floor retail, three of which are fully leased apartment buildings and two of which are single-family homes. Two additional multifamily buildings offering one- and two-bedroom units are …

Vesper Acquires Student Housing Community Near University of Delaware for $48M

NEWARK, DEL. — Vesper Holdings has acquired The Retreat at Newark, a 597-bed student housing community located near the University of Delaware campus in Newark, for $48 million. The property offers a mix of one-, two-, four- and five-bedroom units. Shared amenities include a basketball court, clubhouse, fitness center, tanning beds, a golf simulator, outdoor grilling areas, a pool, hot tub and a computer lounge. TSB Realty brokered the sale of the property on behalf of an undisclosed seller. …

Axilla Capital Arranges $12M CMBS Loan to Refinance Hotel in Delaware

REHOBOTH BEACH, DEL. — Axilla Capital, a Michigan-based finance and advisory firm, has arranged a $12 million CMBS loan. The funds will refinance a Fairfield Inn & Suites hotel in the coastal Delaware city of Rehoboth Beach. Joel Mazur and Tom Fleming of Axilla arranged the loan, which carries a fixed interest rate below 5 percent and a 10-year term, on behalf of an undisclosed borrower. The lender was also

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