G.S. Wilcox & Co. secured financing of $19,500,000 for two New Jersey industrial properties.
In the process, the firm established a new relationship with Kansas City Life Insurance Company which funded the loan, in large part due to the strong New Jersey industrial market fundamentals.
Gretchen S. Wilcox, president, and Al Raymond, principal of G.S. Wilcox & Co. arrange one loan for $13,500,000 with a fixed 2.85 percent interest rate for five years.
The loan has a 30-year amortization and was secured by a 202,148 s/f warehouse building located in Secaucus.
The second loan of $6,000,000 was placed on a 100,626 s/f industrial building in Whippany. This loan has a three percent interest rate fixed for seven years with a 30 year amortization.