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.”
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.