G.S. Wilcox & Co. closes $11.515 million

G.S. Wilcox & Co. has completed the following transactions: G.S. Wilcox arranged a commercial mortgage loan with a local bank in the amount of $6.565 million for a retail property located in Montclair, NJ. Gretchen Wilcox, president, and Al Raymond, principal, arranged the 5-year loan which also has one year interest only and yielded a rate of 5.62%. Also financed with the bank and client was a 2-year interest only floating rate transaction in the amount of $1.45 million secured by 10 residential condominium units at the same property. Major tenants at the property include New York Sports Club and Starbucks. The Wilcox/Raymond team also financed a 20 year self-liquidating loan which is ground leased to a major national bank in Bedminster, N.J. The loan amount was for $2 million and yields a rate of 6%. The transaction was financed through one of their life company relationships. David Fryer, principal at G.S. Wilcox & Co. closed a $1.5 million fixed rate loan with a term of 10 years and a 25-year amortization at 5.75%, secured by a flex industrial building located in Runnemede, N.J. The transaction was financed through one of their correspondent life company relationships. G.S. Wilcox & Co., through its membership in Strategic Alliance Mortgage (SAM), is part of an organization of 23 privately-owned commercial mortgage firms having 48 offices throughout the United States. SAM members have arranged over $55 billion of commercial mortgage loans since 2001 and currently services $39 billion. In an ever-changing market, SAM members offer the best lender relationships which lead to successful commercial mortgage solutions.