G.S. Wilcox & Co. facilitates $18.9M in financing across NC and VA

Greensboro, NC and Richmond, VA — G.S. Wilcox & Co. has completed $18.9 million in combined financing for two retail properties in Greensboro, North Carolina and Richmond, Virginia for a New Jersey-based borrower. Both retail properties are anchored by the local grocery chain Food Lion. The financings were arranged by Bridget Wilcox, partner, Wesley Wilcox, partner, and Will Gallagher, associate Producer, and were secured through two correspondent life insurance companies of the firm.

The Greensboro property is 151,000 s/f across two buildings and was secured by a $7.7 million acquisition loan on a five-year term at a highly attractive rate. The property is nearly fully occupied and located just minutes from Route 70.

In Richmond, the property consists of three buildings totaling 112,000 s/f and is fully occupied. The $11.2 million loan was secured on a five-year term at a highly competitive rate. Additionally, the borrower recently invested significant capital into the property and executed a long-term lease extension with the anchor tenant.

“It was a pleasure working with both the borrower and lender to get these transactions across the finish line. Both transactions signal continued growth and investment in the retail market in the Southeast,” said Wilcox in a prepared statement.