Office/warehouse loans add up to $75m.Q10/G.S. Wilcox & Co. has arranged financing totaling $71.25 million through multiple lender relationships. The team of Gretchen S
The loans included a $50,750,000 construction loan for a single tenanted built-to-suit Class A office building located in Wallingford, CT. The building will contain 300,007 s/f of net rent able space. At the time of closing the property was pre-leased in its entirety The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. to one tenant. The construction financing pricing was based on LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). with a 16 month term with an option to extend for an additional 12 months. Financing was arranged through a bank relationship. They also arranged $20,500,000financing for a one-story warehouse/ distribution building located in Woodbridge, NJ. The property was recently constructed and contains 341,500 s/f of rentable area. Forward financing was based on a 20 year term with a 25 year amortization. The loan closed vacant with a master lease in place from the borrower. Financing was secured through Thrivent Financial for Lutherans Thrivent Financial for Lutherans (first word pronounced "THRIVE-int" — or more precisely, alluding to contractions, "thrive—n't"; IPA pronunciation: /ˈθɹaɪvɘnt/ . Q10| G.S. Wilcox & Co. services New Jersey and parts of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Pennsylvania. The Company is headquartered in Morristown, NJ. |
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