Real Estate Weekly
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Debt & Equity

G.S. Wilcox closes on $24M mortgage for AL, NC hotels

G.S. Wilcox & Co. announced that Gretchen S. Wilcox, president, and Al Raymond, principal, have arranged a $24,000,000 first mortgage for three hotels located in Alabama and North Carolina.

Photo by GotCredit/ Flickr
Photo by GotCredit/ Flickr

The loan was placed with the Minnesota Life Insurance Company which is one of G. S. Wilcox & Co.’s correspondent lenders.

The three hotels in the portfolio are: an 88-room Hampton Inn & Suites and a 102-room Hilton Garden Inn located in Alabama; as well as a 112-room Hilton Garden Inn located in North Carolina.

The non-recourse loan has a seven-year fixed rate term, with a 25year amortization period.

G.S. Wilcox & Co., located in Morristown, NJ, is a full service mortgage banking firm which originates, underwrites, and services commercial real estate mortgage loans.

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