Jones Lang LaSalle
Advance Gets $51M in Refinancings
By Eric Peterson
Last updated: December 13, 2005 10:31am
BEDMINSTER, NJ-Advance Realty Group, based here, has refinanced three of its properties with a total loan value of $51 million. All three refinancings carry a 10-year term with a 25-year amortization.
The three loans were arranged by Gretchen S. Wilcox, president of GS Wilcox & Co., a Morristown-based commercial mortgage banking firm, along with the firm’s Albert Raymond. The funding was provided by Thrivent Financial for Lutherans.
The first of the three loans is secured by the Middlebrook Crossroads I and II in Bridgewater, a 20-building, 800,000-sf office/warehouse/flex park in Central New Jersey’s Somerset County. The other two loans cover Advance properties in Maryland: Four multi-tenant office buildings containing nearly 176,000 sf within the Metro East Business Park in Landover; and a 64,842-sf multi-tenant class B office building in Lanham.
Advance Gets $51M in Refinancings
By Eric Peterson
Last updated: December 13, 2005 10:31am
BEDMINSTER, NJ-Advance Realty Group, based here, has refinanced three of its properties with a total loan value of $51 million. All three refinancings carry a 10-year term with a 25-year amortization.
The three loans were arranged by Gretchen S. Wilcox, president of GS Wilcox & Co., a Morristown-based commercial mortgage banking firm, along with the firm’s Albert Raymond. The funding was provided by Thrivent Financial for Lutherans.
The first of the three loans is secured by the Middlebrook Crossroads I and II in Bridgewater, a 20-building, 800,000-sf office/warehouse/flex park in Central New Jersey’s Somerset County. The other two loans cover Advance properties in Maryland: Four multi-tenant office buildings containing nearly 176,000 sf within the Metro East Business Park in Landover; and a 64,842-sf multi-tenant class B office building in Lanham.
posted by Jones Lang LaSalle NJ News Blog at 11:12 AM
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