By Joshua Burd
The owner of a 70,000-square-foot medical office building in Eastern Pennsylvania has secured $44 million in financing, in a deal arranged by G.S. Wilcox & Co.
According to the mortgage banking firm, which is based in Morristown, the fixed rate construction-to-permanent loan comes with a 23-year term. G.S. Wilcox Vice President Wesley Wilcox sourced the transaction, noting that the single-tenant building is located in Lehigh County.
“The credit worthiness of the tenant allowed the borrower to obtain very favorable financing at nearly 100 percent of value at a very competitive rate,” Wilcox said. “G.S. Wilcox & Co. is proud to secure such great terms for our client.”