By Joshua Burd
The owner of an 81,000-square-foot, grocery-anchored shopping center on Long Island has refinanced for $9.5 million, in a deal arranged by G.S. Wilcox & Co.
The mortgage banking firm, which is based in Morristown, said correspondent lender Thrivent Financial for Lutherans is providing the loan with a 15-year term and 30-year amortization. Proceeds will support what G.S. Wilcox described as a neighborhood center in Hampton Bays, a hamlet within Southampton in Suffolk County.
Principal David Fryer brokered the loan, having also arranged the existing mortgage on the property through the same life insurance company.
“We value the opportunity to work with this longstanding client on another strong retail asset,” Fryer said. “We have been working together now for over 20 years.”