G.S. Wilcox & Co. has successfully arranged $7.2 million in permanent financing for a multi-family community in the heart of downtown Morristown. The deal covers a four-building portfolio totaling 37 apartment units, further solidifying the firm’s influence in one of New Jersey’s most competitive residential markets.
The financing package, secured by Wesley Wilcox (partner), Al Raymond (principal), and William Gallagher (associate producer), features a seven-year term with a 20-year amortization schedule. The loan was funded through one of the firm’s exclusive correspondent life insurance company relationships.
The portfolio’s value is bolstered by its proximity to Morristown’s rapidly expanding corporate hub. The properties are located within a five-minute walk of NJ Transit’s Morristown Station and just a two-minute drive from I-287, making it a “transit-oriented” asset.
Crucially, the apartments sit within walking distance of the recently completed M Station redevelopment. This transformative project has brought thousands of high-income professionals to the neighborhood, with global firms Deloitte and Sanofi establishing major headquarters at the site.
“This asset’s location represents one of the best in downtown Morristown,” Wesley Wilcox said. “It was a pleasure working with both the borrower’s and lender’s team to close the transaction.”
