In the largest deal, an acquisition loan was arranged with GE Financial Assurance for 7 Entin Rd., a 65,000-sf class A office building in Parsippany, NJ. The package amounted to $6.6 million with a five-year fixed rate on a 20-year amortization schedule.
Also, the firm has refinanced a multi-tenant, 70,000-sf office building in Florham Park, NJ through its corresponding lender, GE Financial Assurance. The $5.15 million loan carries a fixed rate for five years and a 25-year amortization schedule. GEFA was also the lender for a 69,000-sf flex/warehouse property in Edison, NJ. The loan amount was $3.31 million with a 10-year fixed rate and a 20-year amortization.
Aid Association for Lutherans was the lender on two industrial transactions. The first provided a forward rate locked commitment and financing for a new 53,790-sf warehouse in Cranbury, NJ. The loan of $2.725 million was fixed for 10 years with a 25-year amortization. The second was an acquisition loan of $2,336,250 for a warehouse property in Carlstadt, NJ. It was provided on a 10-year fixed term with a 20-year amortization.
Also, G.S. Wilcox arranged its first loan with new correspondent lender Clarica Life of Canada. The $3 million refinancing was arranged for a 42,206-sf single-tenant building in Piscataway, NJ. Finally, StanCorp Mortgage Investors, the investment arm of Standard Life, financed a 10,908-sf Eckerd Drug Store in Aberdeen, NJ in the amount of $1.365 million.
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