www.marejournal.com F inancial D igest F eaturing T ax I ssues & A ccounting Gretchen Wilcox & David Fryer arranges financing G.S. Wilcox&Co. secures $25.5million infinancing for new luxury apartments in Warminster, PA M id A tlantic Real Estate Journal — July 13 - 26, 2018 — 5A
m o r t g a g e banking firm based inMor- ristown, NJ has secured $25 . 5 mi l - l i on i n f i - nancing for the Jackson- ville Station Community, a r e c e n t l y constructed 1 5 1 - u n i t , eight build- i ng l uxury c ommun i t y l o c a t e d i n Warminster. W
County, which opened in 2012. In alignment with the Borrow- er’s mission to develop luxury apartment communities that are not only multi-family but also transit-oriented, the Jack- sonville Station Community is optimally located across the street from the Septa Rail Station, which provides direct connectivity to Philadelphia in under 40 minutes. “Working off the strength of ownership’s property across the street, we were able to convince the lender to rate lock the loan very early in the lease up phase of the project,” Fryer said in a prepared statement. Founded in 1994 by Gretch- en Wilcox, G.S. Wilcox & Co. is a leader in the commercial real estate banking industry. The company is known for its success in providing debt and equity solutions to develop- ers, real estate private equity firms, institutional investors, and other owners of commer- cial real estate. laundry, and 24-hour main- tenance in an advantageous location surrounded by shops, restaurants, schools, and em- ployment opportunities. An inner suburb of NewYork City, Hackensack is located 12 miles northwest of Midtown Manhattan and is easily acces- sible via bus and New Jersey Transit in just under an hour, or by car in approximately 30 minutes. “Given Meridian’s substan- tial and ongoing relationship with real estate lenders, we were able to proactively lock the rate for this loan in De- cember, achieving a mid-3% rate in a rising interest rate environment, and holding this rate until the closing in May,” said Hammer. Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms.
ARMINSTER, PA — G.S. Wilcox & Co. , a commercial
Gretchen Wilcox
David Fryer
The financing, arranged by Gretchen Wilcox , president & CEO, and David Fryer , principal, was secured with a 10 year term and a 30 year amortization through Allianz . The client was a repeat bor- rower of the firm’s.
Jacksonville Station Community in-ground pool, the subject property is situated directly
Featuring 12 different unit types with a clubhouse and
across from its sister com- munity, The Station at Bucks
Meridian Capital Group’s Hammer and Karpel arrange $19million in financing for Summit Gardens
HACKENSACK, NJ — Meridian Capital Group ar- ranged $19 million in financing
to refinance a multifamily c ommun i t y in Hacken- sack. The seven- y e a r l o an , provided by a balance sheet lender, fea- tures a rate o f 3 . 6 2 5% and was ne- gotiated by Meridian vice p r e s i d e n t , JudahHam- m e r , a n d senior vice
Judah Hammer
Zev Karpel
president, Zev Karpel , who are based in the company’s New York City headquarters. Located on Acadia Rd. in Hackensack, NJ, Summit Gardens consists of 14 two- story, garden-style buildings
Summit Gardens in Hackensack, NJ fully-equipped kitchens, hard- wood floors, dishwashers, and heat and hot water included in
containing 135 one- and two- bedroom apartments. Units feature amenities including
the monthly rent. The commu- nity also boasts benefits such as lush landscaping, onsite
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