500 Delaware
An office property in Wilmington, Delaware. Securitized in 2 CMBS deals between 2012 and 2025.
$125.7MAppraised value (latest deal)
92.9%Occupancy
$9.0MUnderwritten NOI
7.1%Implied cap rate
- Address
- 500 Delaware Avenue, Wilmington, DE 19801
- Property type
- Office · CBD
- Year built
- 2006
- Size
- 371,222 SF
- Sponsor
- David Pollin, Robert Buccini and Christopher Buccini
- Loan purpose
- Refinance
- Largest tenant
- Wilmington Savings Fund Society, FSB
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| COMM 2012-CCRE2 | 2012-08-21 | $97.5M | 89.7% | $7.2M | 7.4% | $69.8M | 71.5% | 1.49x | 424B |
| BMO 2025-5C9 | 2025-03-20 | $125.7M | 92.9% | $9.0M | 7.1% | $8.0M | 67.6% | 2.10x | 424B |
Historical NOI reported in BMO 2025-5C9
| Period ending | NOI |
|---|---|
| 11/30/2024 | $8.0M |
| 12/31/2023 | $7.9M |
| 12/31/2022 | $7.9M |
More CMBS properties in Delaware →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.