By Joshua Burd
G.S. Wilcox & Co. has closed nearly $30 million in financing in recent weeks, arranging loans for a trio of warehouses in Pennsylvania’s Lehigh Valley.
The Morristown-based firm said it worked with Lincoln Financial Group, one of its correspondent lenders, to place the debt for the properties in the city of Bethlehem. The largest of the loans, an $11.25 million transaction, was secured by a 179,336-square-foot property with a self-amortizing 25-year term.
The G.S. Wilcox team of President Gretchen S. Wilcox and Principal David Fryer also arranged a $7.25 million loan with a 15-year term and 18-year amortization, which was secured by a 120,000-square-foot property. The third loan, secured by a 160,000-square-foot building, was for $11 million with a rate in the mid 2 percent range.
The financing totaled $29.5 million.
“We are pleased to have been able to execute this financing for this repeat client of our firm through our exclusive correspondent lender, Lincoln Financial Group,” Wilcox said. “Our life insurance company correspondents continue to be a strong and hungry capital source who offer the best terms and execute successfully.”