
October 21, 2008 -
Financial Digest
David Fryer, principal of Q10 | G.S. Wilcox & Co. arranged two commercial real estate mortgages totaling $11.5 million.
* A $4.3 million loan on a 24,800 s/f medical office building. This property is still in the initial lease up stage after construction had been completed in late 2007. The loan closed with a fixed interest rate of 5.8%, and the lender provided the borrower with one year of interest only. Financing was arranged through Q10 | G.S. Wilcox's relationship with a local bank.
* A $7.2 million loan on a three industrial buildings totaling 211,527 s/f located in South Hackensack. These properties were 100% occupied at time of closing. The loan carries a fixed interest rate of 5.75% for a term of 10 years and an amortization of 25 years. Financing was arranged through Q10 | G.S. Wilcox's correspondent relationship with Southern Farm Bureau Life Insurance Co.