G.S. Wilcox's recent retail transactions total $32M

Across two recent transactions, G.S.

& Co. secured nearly $32 million in funding for North Jersey retail properties.

In Hoboken, the firm arranged $26.25 million in financing for a 48,268-square-foot retail/medical office property. And in Madison, $5.4 million in refinancing will go toward a 28,645-square-foot grocery property, the woman-founded commercial real estate mortgage banking firm announced Oct. 7.

Both properties boast full occupancy and high-traffic locations. The announcement did not disclose specific addresses. Correspondent life insurance companies provided financing for both transactions, according to G.S. , while the borrowers are each repeat clients of the Morristown-based firm.

Principal David Fryer arranged the seven-year term with full-term interest-only payments financing.

Located along Washington Avenue, the Hoboken property is steps from the NJ Transit station. Two credit rated tenants, a pharmacy, bank branch and primary care center occupy the property.

“One of the managing members of the borrower has been a client for over?two?decades and I have always been enamored by this property they have owned," Fryer commented on the deal.?" It?has to?be some of the most valuable dirt in New Jersey and it was a pleasure being able to assist them in refinancing this great property.”



Partner Bridget and principal Al Raymond handled the Madison refinance, securing a 15-year term and 30-year amortization.

Fully leased to a national specialty grocer, G.S. said the supermarket has served the local Morris County community for more than two decades.

“We are thrilled to offer long term financing to our repeat client for a prominent asset in Madison," commented Bridget , who sourced the loan. "We have a longstanding relationship with both the lender and borrower and the lender was able to win the deal by providing best in market pricing for a?15 year?deal.”

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