MOONACHIE, NJ-G.S. Wilcox & Co., a commercial real estate mortgage banking firm, has arranged $12.1-million worth of financing with Thrivent Financial for Lutherans, a correspondent lender. The team of Gretchen S. Wilcox, president, and Al Raymond, principal, arranged the debt on a 320,000-square-foot industrial building here.

The landlord has two tenants both with short-term leases expiring over the loan term. The borrower is a repeat client of both G.S. Wilcox and the lender.

Raymond tells GlobeSt.com, “Buildings with strong sponsorship in good locations are still favored by our lenders.” He adds that “given the competition between lenders today, we are starting to see more aggressive underwriting. There is plenty of money in the market and institutional lenders need to place their share in mortgages as dictated by their portfolio managers.”