An industrial property in Wayne, one of two sites involved in financing deals arranged by G.S. Wilcox & Co.
By Joshua Burd
G.S. Wilcox & Co. has secured more than $12 million in financing for developers involved in two recent transactions in Passaic and Somerset counties, the firm announced.
The Morristown-based mortgage banking firm said President Gretchen S. Wilcox, along with Principal Al Raymond, brokered the deals on behalf of two unnamed clients. The largest transaction was $10 million, which was secured by a 311,813-square-foot warehouse and distribution center in Wayne.
“This transaction represents a long standing borrower/lender relationship which G.S. Wilcox & Co. has managed for two decades, financing millions of square feet,” Raymond said in a prepared statement. “Given this relationship, the lender was able to get comfortable with the risk associated with the transaction and put an acceptable mitigant in place”.
The second transaction consisted of a $2.75 million loan to a refinance a warehousing facility in Somerset. G.S. Wilcox did not disclose the address of either property.