By Joshua Burd
G.S. Wilcox & Co., a Morristown-based mortgage banking firm, said it has arranged for two multifamily properties in Louisiana.
The financing was arranged by David Fryer, principal, the company announced. The deals were financed by Legacy Texas Bank for a repeat customer of G.S. Wilcox & Co.
The first transaction for nearly $24.2 million refinanced a loan for a stabilized 408-unit garden apartment complex in Harvey, Louisiana, according to a news release. The loan term was fixed for three years with a 30-year amortization.
The second deal, for $20 million, provided acquisition funds for a 442-unit garden apartment complex in Algiers, Louisiana, including funds to reconstruct of 260 units. The news release said the loan term was fixed for three years with the first 18 months interest only and a 30 year amortization.