(BiSe)(1+delta)NbSe2 ferecrystals were synthesized in order to determine whether structural modulation in BiSe layers, characterized by periodic antiphase boundaries and Bi-Bi bonding, occurs. Specular X-ray diffraction revealed the formation of the desired compound with a c-axis lattice parameter of 1.21 nm from precursors with a range of initial compositions and initial periodicities. In-plane X-ray diffraction scans could be indexed as hk0 reflections of the constituents, with a rectangular basal BiSe lattice and a trigonal basal NbSe2 lattice. Electron micrographs showed extensive turbostratic disorder in the samples and the presence of periodic antiphase boundaries (approximately 1.5 nm periodicity) in BiSe layers oriented with the [110] direction parallel to the zone axis of the microscope. This indicates that the structural modulation in the BiSe layers is not due to coherency strain resulting from commensurate in-plane lattices. Electrical transport measurements indicate that holes are the dominant charge carrying species, that there is a weak decrease in resistivity as temperature decreases, and that minimal charge transfer occurs from the BiSe to NbSe2 layers. This is consistent with the lack of charge transfer from the BiX to the TX2 layers reported in misfit layer compounds where antiphase boundaries were observed. This suggests that electronic considerations, i.e., localization of electrons in the Bi-Bi pairs at the antiphase boundaries, play a dominant role in stabilizing the structural modulation.