1776 On The Green, located at 67 Park Place East in Morristown — Courtesy: Vision Real Estate Partners
By Joshua Burd
G.S. Wilcox & Co. has arranged a $19 million loan for a developer’s recent acquisition of a well-known office building in downtown Morristown, the mortgage banking firm said Thursday.
Working on behalf of Vision Real Estate Partners, Wilcox secured the financing over a 10-year term from Mutual of Omaha, a corresponding life insurance company lender of the firm. The loan helped finance the client’s purchase of 1776 On the Green, a 145,358-square-foot multitenant office building at 67 Park Place.
Gretchen S. Wilcox, president; Al Raymond, principal; and Wesley Wilcox, senior associate, handled the transaction for the Morristown-based firm.
“G.S. Wilcox & Co. is excited to have secured a loan for Vision Real Estate Partners,” Wilcox said in a prepared statement. “1776 On the Green is an integral asset that will play a positive role in furthering Morristown’s rapidly expanding downtown market.”
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Vision Real Estate Partners announced the acquisition of the building in April from Deutsche Bank Asset Management. The firm has said it plans to modernize the 10-story building through a series of renovations.
