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Wilcox wraps up longterm rental loan

G.S. Wilcox & Co. secured $32 million in financing for Maplewood Crossing located in Maplewood, New Jersey.
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 in a prepared statement.

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