By Joshua Burd
The owner of a 70,000-square-foot supermarket property in New York’s Suffolk County has secured $10.7 million in financing, in a deal arranged by G.S. Wilcox & Co.
David Fryer, a principal with the Morristown-based mortgage banking firm, sourced the loan for the fully leased asset along Jericho Turnpike in South Huntington. Thrivent Financial for Lutherans is providing the debt with a 15-year term and 30-year amortization, G.S. Wilcox said, noting that the property is leased to a brand name grocer.
“We are excited to assist our client on the refinancing of another great property,” Fryer said in a prepared statement. He also originated the existing mortgage on the property with Thrivent Financial, one of its correspondent life insurance company lenders.