G.S. Wilcox & Co., the Morristown-based commercial real estate solutions business, announced this week that it has placed $42.5 million in financing with Mutual of Omaha over the past month.
The team of Gretchen S. Wilcox, president, Albert Raymond, principal, and Wesley Wilcox, vice president, worked together with the exclusive correspondent lender on the loans.
The deals include financing for three warehouse properties in North Jersey:
- A $21 million loan secured by a 236,000-square-foot warehouse with a self-amortizing 20-year term;
- A $13 million loan secured by a warehouse property with a five-year interest-only term and rate in the mid-2% range;
- An $8.5 million loan secured by a 102,000-square-foot warehouse property with a 10-year term including a five-year interest-only element and 25-year amortization.
The loans were all arranged for repeat G.S. Wilcox clients.
“We are pleased to obtain such attractive financing for these clients through our exclusive correspondent lender, Mutual of Omaha,” Gretchen Wilcox said in a prepared statement. “Our life insurance company correspondents continue to be stable sources of capital through the COVID-19 pandemic, and we are confident that we will continue to navigate these uncertain times successfully.”
