G.S. Wilcox & Co. arranges $15.5 million loan

Mount Arlington, NJ G.S. Wilcox & Co. secured a $15.5 million construction loan for a three-building mixed-use property. The financing for the property was arranged by Gretchen Wilcox, president and founder, Al Raymond, principal, and Vincent Puccio, financial analyst.

The subject will contain 80 newly constructed multi-family units in two 5-story buildings flanking an already nearly fully-occupied 38,000 s/f of retail space. The apartment buildings will include co-working space, storage units, and package pick up area. The building of the multifamily units will transform an existing retail asset into a live-shop community built for the modern renter. Residents will benefit from immediate access to I-80, and Rtes. 10 and 46, three of NJ’s primary east-west arterials. 

This property is also located in close proximity to the Mount Arlington NJ Transit station, with direct rail and bus service to NY Penn Station making it an ideal location for commuters.

“We are pleased to see the completion of this transaction on behalf of our repeat client. The attractive location as well as established retail-occupied space attracted those wanting to invest and we see this as a positive sign of growth in the community,” said Wilcox in a prepared statement.