By Joshua Burd
The owner of more than 800,000 square feet of industrial space in northern New Jersey has secured $110.5 million in permanent financing, in a deal arranged by G.S. Wilcox & Co.
According to the mortgage banker, a correspondent life insurance company provided the seven-year, fixed-rate loan with an interest-only structure. The deal is tied to a 97 percent leased portfolio of five buildings, the locations of which were not disclosed.
G.S. Wilcox President and Founder Gretchen Wilcox and Principal Al Raymond sourced the financing.
“This transaction represented the second in the past six months with both this borrower and lender,” Wilcox said. “It was a pleasure working with both parties to facilitate another successful closing.”
