G.S. Wilcox & Co. recently secured a $7 million loan for the owner of this 252,000-square-foot former manufacturing facility in Totowa.
By Joshua Burd
G.S. Wilcox & Co. has secured more than $44 million in financing tied to three recent transactions, including a $7 million loan for an industrial facility in Totowa.
The Morristown-based mortgage banking firm announced that President Gretchen S. Wilcox, along with principals David Fryer and Al Raymond, arranged the financing on behalf of its developer clients. The largest transaction was $31.25 million, which was secured by a garden-style apartment community in Newburgh, New York, consisting of one clubhouse building and 12 two-story residential buildings
G.S. Wilcox represented a partnership of the Fidelco Group and Diversified Realty Advisors, securing financing from AIG, according to a news release. The firm did not disclose the address of any of the properties.
The second transaction consisted of a $7 million loan tied to a 252,000-square-foot former manufacturing facility in Totowa, which will be converted into a 383,000-square-foot single tenant warehouse distribution facility.
Provident Bank financed the property, with G.S. Wilcox representing the Hampshire Cos.
In the third deal, G.S. Wilcox arranged $5.85 million in financing for an office call center facility in Bethlehem, Pennsylvania, the news release said. The company represented J.G. Petrucci Co., with Thrivent Financial providing financing.
