MRA Group Secures $63M in Additional Financing for the Continued Redevelopment of Chestnut Run Innovation and Science Park
Summary
WILMINGTON, Del., Aug. 16, 2023 /PRNewswire/ -- MRA Group (MRA), a privately held real estate development and client services firm, announced it has secured $63M in additional debt for the ongoing redevelopment of Chestnut Run Innovation & Science Park (CRISP), the 164-acre, 14-building campus which is quickly becoming northern Delawares premier applied sciences hub. "The utilization of C-PACE financing via Nuveen is a first for MRA, but undoubtedly a program that will gain traction for the organization given their commitment to developing energy efficient buildings. "It was a pleasure to work with MRA Group and Fulton Bank on this major deal," said Nuveen Green Capital Senior Director of Originations Shelah Wallace. ""The potential for CRISP and its impact on the Wilmington region is very exciting," said Fulton Bank Vice President of Commercial Real Estate Bill Grasso. Additional plans for the campus include amenities such as a hotel, a fitness center, conference space, an outdoor amphitheater, and accommodations for food services.MRA Group (MRA), based in Horsham, PA, is a privately-held, vertically integrated real estate development and client services firm servicing the healthcare, higher education and life sciences sectors.