Dealmaker: G.S. Wilcox & Co. Secures $53M for Industrial, Multifamily

G.S. Wilcox & Co., Morristown, N.J., secured $52.7 million for a central New Jersey industrial portfolio and a recently constructed apartment community in Warminster, Pa.

In New Jersey, company President Gretchen Wilcox, Principal Al Raymond and Senior Associate Wesley Wilcox secured $27.2 million in financing for three industrial buildings. The 410,000-square-foot portfolio included two recently constructed warehouse distribution properties and one existing facility along the I-287 corridor.

Thrivent Financial for Lutherans, Minneapolis, supplied the 20-year fixed-rate loan. It priced at 4 percent with a 30-year amortization schedule.

Gretchen Wilcox and Principal David Fryer also arranged $25.5 million in financing for Jacksonville Station, a 151-unit, eight-building community in Warminster. Allianz, New York, supplied a 10-year loan with a 30-year amortization schedule. 

The subject property is located directly across from its sister community, The Station at Bucks County, which opened in 2012. Fryer said the borrower seeks to develop transit-oriented apartment communities, so Jacksonville Station is located across the street from a SEPTA rail station that 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.