Deal of the Week: Office-to-multifamily conversion property in Wilmington, Delaware

by Sara Havlena

January 9, 2026
8:00 am

This Class A property, The Standard, was first developed in 1940. In 1999, Buccini Pollin Group (BPG) purchased the building, renovated it and operated it as an office building. In 2022, BPG began a three-phase office-to-residential conversion on floors five to 14. Phase 1 (92 units) is stabilized, phase 2 (174 units) is in lease-up and phase 3 (97 units) is currently being converted. The bottom floors of the property are a separate condo that is not part of the loan collateral and include retail and office space. After the conversion, the property will have 363 total residential units and 5,845 s.f. of retail space.

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Sara Havlena

Havlena is the editor-in-chief of Crittenden Real Estate magazine and The Crittenden Report: Real Estate Financing, Retail Tenants Report and the Multifamily Report and their respective websites. She has been an editor with Crittenden since 2007 and worked on a variety of real estate publications during her time at the company covering a wide range of topics from restaurant expansion to real estate developers. She has been the lead reporter and editor of Crittenden’s flagship publication, The Crittenden Report, since 2011. She has a degree in Print Journalism from Cal State Fullerton, and resides in Orange County, Calif.

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Deal of the Week: Office-to-multifamily conversion property in Wilmington, Delaware

Sara Havlena

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