News: National News
Posted: January 5, 2024
G.S. Wilcox & Co. secures $49 million in financing for portfolio
Carlstadt, NJ G.S. Wilcox & Co. has completed $49 million in financing for a four property industrial portfolio. The financing was secured by Gretchen Wilcox, president, and David Fryer, principal, with a 5-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 s/f and features 22’ clear ceiling heights, several loading docks, and car parking in each of the buildings. The buildings also benefit from The NJ Turnpike, Routes 3 and 17, and Interstate 80 all accessible within 7 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.” said Wilcox.
MORE FROM National News
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary