Yorktown, N.Y. — G.S. Wilcox & Co. has secured $25.2 million in financing for the site development of a future Lowe’s Home Improvement Warehouse, which has a 20-year ground lease, in Yorktown.
David Fryer of G.S. Wilcox & Co. arranged the loan with a two-year construction period and a 20-year term thereafter. The loan includes an extended amortization period beyond the initial lease term without the use of residual value insurance. The site has three additional pad sites that were left unencumbered, allowing the borrower to lease those to tenants and secure necessary financing.