Jacksonville Station in Warminster, Pennsylvania — Courtesy: G.S. Wilcox & Co.
By Joshua Burd
G.S. Wilcox & Co. has secured $25.5 million in financing for a recently built, 151-unit luxury apartment complex about 20 miles west of Trenton.
The Morristown-based firm said it arranged the loan on behalf of a repeat client, the developer of Jacksonville Station in Warminster, Pennsylvania. Wilcox secured the financing with a 10-year term and a 30-year amortization through Allianz.
CEO and President Gretchen Wilcox and David Fryer, principal, led the assignment.
Featuring 12 different unit types with a clubhouse and in-ground pool, the eight-building property sits directly across from its sister community, The Station at Bucks County, which opened in 2012, according to a news release. Jacksonville Station is also across the street from the SEPTA rail station, which provides direct connectivity to Philadelphia in less than 40 minutes.
“Working off the strength of ownership’s property across the street, we were able to convince the lender to rate lock the loan very early in the lease up phase of the project,” Fryer said in a prepared statement.