By Joshua Burd
The longtime owner of a 45,000-square-foot shopping center on Long Island has secured $7.5 million in financing, in a newly announced transaction by G.S. Wilcox & Co.
According to the Morristown-based mortgage banking firm, Thrivent Financial for Lutherans provided the loan with a 15-year term and 25-year amortization. G.S. Wilcox Principal David Fryer sourced the debt for the undisclosed property in Franklin Square, New York, which benefits from its location near Hempstead Turnpike.
“This is an exciting loan refinancing for us as this property was the first loan we made with this outstanding borrower over 20 years ago,” Fryer said. “The relationship we have shared since then has been very special to us.”
