G.S. Wilcox & Co. secures $32M across multiple transactions

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G.S. Wilcox & Co. on Tuesday announced it successfully arranged $26.25 million in financing for a 48,268-square-foot retail/medical office property located in Hoboken, and $5.4 million in refinancing for a 28,645-square-foot grocery property in Madison. The Hoboken property’s financing was arranged with a 7-year term with full-term interest-only payments, while the Madison property’s refinance was secured with a 15-year term and 30-year amortization.

Principal David Fryer originated the Hoboken transaction, while Partner Bridget Wilcox and Principal Al Raymond handled the Madison refinance. The financings were provided by correspondent life insurance companies to repeat clients of G.S. Wilcox & Co.

The Hoboken property has a prominent location along Washington Street and is situated just steps from the NJ Transit station, providing high visibility to residents and visitors. The building is fully occupied by two credit rated tenants, a pharmacy and bank branch, as well as a primary care center.

“One of the managing members of the borrower has been a client for over two decades and I have always been enamored by this property they have owned. It has to be some of the most valuable dirt in New Jersey and it was a pleasure being able to assist them in refinancing this great property,” Fryer said.

The Madison property is fully leased to a national specialty grocer. This grocer has served Madison and surrounding communities for over 20 years. Conveniently located off a high-traffic road, the property benefits from excellent visibility and accessibility, making it a prime destination for local shoppers and passersby alike.

“We are thrilled to offer long term financing to our repeat client for a prominent asset in Madison. We have a longstanding relationship with both the lender and borrower and the lender was able to win the deal by providing best in market pricing for a 15-year deal,” Bridget Wilcox said.