G.S. Wilcox & Co. arranges $103 million in financing for Union apartment building

Union, NJ G.S. Wilcox & Co. announced that it has completed a $103 Million financing for a 428-unit luxury apartment building. The financing, arranged by Gretchen Wilcox, president and David Fryer, principal, was secured with an 18.5-year term with a 30-year amortization at a rate in the mid two percent range, locked in with a 15-month forward commitment and closed before the entire project completed construction. The deal was financed for Russo Development through Thrivent Financial, one of the firm’s exclusive correspondent life insurance company lenders.

Union is the home of Kean University and their nearly 17,000 undergraduate students. The township also features broad access to the region on the Raritan Valley Line via Union Station,
as well as excellent highway access.

“We are thrilled to be able to assist Russo Development in financing another excellent project and a great addition to Union,” said Wilcox.