 (1).gif)
News:
Finance
Posted: September 15, 2023
G.S. Wilcox & Co. arranges $10.2m financing for self-storage facility
Hartford, CT G.S. Wilcox & Co. has completed $10.2 million in ?nancing for a pre- stabilized self-storage facility. The ?nancing was secured by Gretchen Wilcox, president, and Albert Raymond, principal, with a 13-year term and five years interest only, followed by a 30-year amortization. The lender also provided ?exible prepayment. The ?nancing was provided by a life insurance company for The Hampshire Companies. G.S. Wilcox & Co. also originated the construction loan for this property in 2020.
The site is located along I-95 South within a shopping center. The facility, managed by a national self-storage ?rm, features 785 climate-controlled units and 24/7 security. The location has numerous demand drivers including several higher education facilities and a US Navy Submarine Base.
“It was a pleasure to work with The Hampshire Companies on both the construction and long-term re?nancing of this excellent property. The lender, a new relationship, was able to provide exceptional ?nancing prior to the property achieving stabilization thanks to their wealth of experience with this product type.” said Wilcox in a prepared statement.
Founded in 1994 by Gretchen Wilcox, G.S. Wilcox & Co. is a leader in the commercial real estate investment banking industry. They provide debt and equity soluons to developers, real estate private equity ?rms, instuonal investors, and other owners of commercial real estate. The company is based in Morristown, New Jersey.
Tags:
Finance
MORE FROM Finance
Funding your project: Available, but expensive, in many ways - by Daniel Calano
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
 (1).gif)
Quick Hits
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
