Dealmaker: G.S. Wilcox & Co. Secures $212M for Multifamily, Industrial
G.S. Wilcox & Co., Morristown, N.J., secured $212 million for eight New Jersey apartment and industrial properties.
Vice President Robert Logan and Principal Al Raymond arranged $32 million in financing for Maplewood Crossing apartments in Maplewood, N.J. The recently constructed community contains three buildings with 151 units.
Borrower Elite Properties accepted a 20-year life company loan with an interest-only period followed by a 30-year amortization schedule.
G.S. Wilcox & Co. also recently closed $180 million in apartment and warehouse loans through Thrivent Financial, Minneapolis. Two apartment properties, Vermella West in Kearny and The Winston in Lyndhurst, received $100 million. Vermella West has 280 units and The Winston has 218 rental apartments. Both new permanent loans took out the asets’ construction loans.
The firm placed another $80 million on five warehouse properties located throughout New Jersey. The subject properties included a 417,000-square-foot property owned by Whitesell in Florence; three buildings totaling nearly 400,000 square feet owned by Adler Development; a 340,900-square-foot building in South Brunswick owned by Forsgate Industrial Parks; a 61,000-square-foot warehouse owned by Hartz Mountain Industries and a 128,000-square-foot flex property in Wall Township.