G.S. Wilcox & Co. recently closed $170 million of apartment and warehouse loans through their exclusive correspondent, Thrivent Financial.
Two apartment transactions totaled $100 million. One was for a 280 unit complex called Vermella West (pictured top), a Russo development located in Kearny, NJ.
The other was for The Winston, a Petrucci/Mandelbaum apartment project with 218 units located in Lyndhurst, NJ. Both of the loans were take outs of construction loans and priced aggressively.
Another roughly $80 million was placed on five warehouse properties located throughout New Jersey. The properties were a 417,000 s/f property owned by Whitesell in Florence; three buildings totaling approximately 400,000 s/f owned by Adler Development; a 340,900 s/f building located in South Brunswick owned by Forsgate Industrial Parks; a 61,000 s/f warehouse owned by Hartz Mountain Industries; and a 128,000 s/f flex property located in Wall Township.
Thrivent Financial has a commercial mortgage loan portfolio of $8 billion.