Outside the Region: Wilcox and Fryer of G.S. Wilcox & Co. secure $25.5 million for 151 units

Warminster, PA G.S. Wilcox & Co. has secured $25.5 million in financing for the Jacksonville Station Community, a recently constructed 151-unit, eight-building community. The financing, arranged by Gretchen Wilcox, president and CEO, and David Fryer, principal, was secured with a 10-year term and a 30-year amortization through Allianz. The client was a repeat borrower of the firm.

Featuring 12 different unit types with a clubhouse and in-ground pool, the subject property is close to its sister community, The Station at Bucks County, which opened in 2012. 

In alignment with the borrower’s mission to develop apartment communities that are not only multifamily but also transit-oriented, the Jacksonville Station Community is optimally located across the street from the Septa Rail Station, which provides direct connectivity to Philadelphia in under 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 in a prepared statement.

Founded in 1994 by Gretchen Wilcox, G.S. Wilcox & Co. is a leader in the commercial real estate banking industry. The company is known for its success in providing debt and equity solutions to developers, real estate private equity firms, institutional investors, and other owners of commercial real estate.