Arrow Real Estate Advisors arranges $21.9 million refinance for Delaware Corporate Center in Wilmington

Wilmington, DE Arrow Real Estate Advisors arranged a $21.9 million refinance loan on behalf of Buccini Pollin Group (BPG) for Delaware Corporate Center, a two-building Class A office campus located at 1 and 2 Righter Pkwy.

The financing was arranged by Arrow’s Morris Betesh, Alex Bailkin, and Matt O’Hanlon and provided by Israel Discount Bank (IDB). The loan refinances the 200,275 s/f office campus and positions the property for continued stability and growth.

Located along Rte. 202 corridor near downtown Wilmington, Delaware Corporate Center has long served as one of northern Delaware’s premier suburban office destinations. The three-story campus attracts a diverse mix of professional services firms, financial institutions, and corporate tenants seeking high-quality office space in a strategic location with convenient access throughout the region.

Over the past three years, BPG has executed 160,000 s/f of leasing activity, including the successful replacement of two major tenant departures in 2024, restoring the campus to stabilized occupancy and underscoring the strength of the asset’s market position.

“BPG’s continued investment in Delaware Corporate Center and the strong leasing activity at the property reflect the enduring appeal of well-located, institutional-quality office assets,” said Betesh.

The transaction highlights continued lender confidence in high-quality office properties that benefit from experienced ownership, strong tenant demand, and strategic locations. Arrow worked closely with BPG and IDB throughout the financing process to structure a refinancing solution that recognizes the property’s strong operating performance and long-term fundamentals.

The refinancing retires existing debt and provides BPG with enhanced flexibility as it continues to execute its long-term business plan for the property.