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Lenders comfortable with risk level on warehouse deal

G.S. Wilcox & Co. has secured more than $12 million in financing tied to two recent transactions.

The Morristown-based mortgage banking firm announced that president Gretchen S. Wilcox, along with principal Al Raymond, arranged the financing on behalf of its developer clients.

The largest transaction was $10 million, which was secured by a 311,813 s/f warehouse distribution center in Wayne, New Jersey.

“This transaction represents a long-standing borrower/lender relationship which G.S. Wilcox & Co. has managed for two decades, financing millions of square feet. Given this relationship, the lender was able to get comfortable with the risk associated with the transaction and put an acceptable mitigant in place,” said Raymond in a prepared statement.

The second transaction consisted of a $2.75 million loan to a refinance a warehousing facility located in Somerset, NJ.

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