SEACAUCUS, NJ-Three buildings in New Jersey and three in California were refinanced for a total of $27.1 million in deals put together by Q10/G.S. Wilcox & Co.Two Northern New Jersey industrial buildings with an aggregate of 306,417 square feet now back a $10.6-million loan. The paper carries a 6.45% interest, a term of 10 years, with a rate reset after five years, and a 25-year amortization. Financing was secured through the firm’s relationship with a life insurance company.

In Secaucus, a 179,625-square-foot warehouse served as the collateral for a $7-million loan, which was underwritten at 6.375% rate. It also has a term of 10 years with a rate reset after five years and a 25-year amortization. A local bank provided the funds.A local bank also gave a $3-million loan to a 26,568-square-foot retail property in Wayne. The interest rate on that refi is 6.45%; the term is for five years and the amortization runs for 25 years.

The New Jersey transactions were closed by company president Gretchen S. Wilcox and principal Albert Raymond. “There are deals that can get done in this market,” Raymond tells “It comes down to lenders picking and choosing. If they feel it’s the right deal, they’ll get aggressive.” The three deals closed between 45 and 60 days.

Raymond declined to name the borrowers, specify the addresses of the buildings or characterize the funding the new deals replaced. He says the refinancings are representative of what is typically being done in the marketplace today and the interest rates “were reflective of the loan-to-values” on the properties. A source unrelated with the deal says that properties are located here in Seacaucus.

In Monterey, CA, principal David Fryer structured a $6-million loan for an office building and three R&D/flex facilities that total 102,741 square feet. The financing package, procured through Wilcox’s correspondent relationship with Advantus Capital Management, carry a 6.77% interest rate, a 10-year term and 25-year amortization.

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