G.S. Wilcox & Co., a commercial mortgage banking firm based in Morristown, NJ, has secured $32 million in financing for Maplewood Crossing located in Maplewood, NJ.
The recently-constructed luxury apartment community contains three buildings with 151-units.
Robert Logan, vice president, and Al Raymond, principal, represented the borrower, Elite Properties, to secure the loan with a 20-year term and an interest-only period followed by 30-year amortization. The client is a repeat borrower of the firm. “The strong market fundamentals and the high-quality product led to significant interest from our life company relationships. We are honored to have again worked with this client to secure optimal long-term financing,” Logan said.