Morristown-based G.S. Wilcox & Co. announced that it has completed $49 million in financing for a four-property industrial portfolio in Carlstadt.
The financing was secured by Gretchen Wilcox, president, and David Fryer, principal, with a five-year term and interest-only payments for the full term. The borrower is a repeat client of G.S. Wilcox & Co., with the financing obtained through one of the firm’s correspondent lenders.
The portfolio, developed by the borrower in the 1980s, totals roughly 570,000 square feet and features 22-foot clear ceiling heights, several loading docks and ample car parking in each of the buildings. The buildings also benefit from a highly desirable location, with the New Jersey Turnpike, Routes 3 and 17, and Interstate 80 all accessible within seven miles of the portfolio.
“G.S. Wilcox & Co. is proud to arrange another financing for this valued client. Our client’s exceptional development and management capabilities are clearly displayed in these assets. Due to the high quality of the sponsorship, the location and other factors, we were able to achieve the market’s best pricing,” Wilcox said.
Founded in 1994 by Gretchen Wilcox, G.S. Wilcox & Co. is a leader in the commercial real estate investment banking industry. It provides debt and equity solutions to developers, real estate private equity firms, institutional investors and other owners of commercial real estate.