Orlando, Florida – January 5, 2010 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,707,043 for the Social Security Administration (SSA) Buildings in Lake City and St. Augustine, Florida.
Doug Rozzell, Company Principal, financed the SSA Lake City Building through Thomas D. Wood and Company’s relationship with a regional bank in the amount of $1,905,345. The mini-permanent loan has a term of three years, based on a 20-year amortization. The loan-to-value is 80% and loan-to-cost is 85%, with an interest rate of LIBOR + 300 basis points, floor of 6.75%. The 9,432 square-foot single-tenant office was built in 2009 and is located on Bascom Norris Drive, Lake City, Florida.
Rozzell also financed the SSA St. Augustine Building through a regional bank in the amount of $1,801,698. The mini-permanent loan has a term of three years, based on a 20-year amortization. The loan-to-value is 80% and loan-to-cost is 90%, with an interest rate of 6.75%. The 7,306 square-foot single-tenant office was built in 2009 and is located at 2440 Old Moultrie Road, St. Augustine, Florida.
Thomas D. Wood and Company is an independently owned, leading commercial mortgage banking firm in the southeast. Thomas D. Wood and Company has correspondent relationships with fourteen major life insurance companies, and is also a member of the Strategic Alliance Mortgage (SAM), a unique company consisting of 20 members who are all individually owned, commercial real estate investment banking/mortgage banking firms located throughout the United States. Thomas D. Wood and Company’s servicing portfolio is now approaching one billion dollars. This servicing portfolio consists of long-term mortgages on a variety of commercial properties located throughout the state of Florida. These properties include: Retail, Industrial, Office, Senior Housing Communities, Self-storage, Apartments, Warehouses, Hotels and Mobile Home Parks. Thomas D. Wood and Company’s corporate office is located at 95 Merrick Way, Suite 360, Coral Gables, Florida 33134, with branch offices located at 1215 Louisiana Avenue, Suite 100, Winter Park, Florida 32789, 7349 Professional Parkway East, Sarasota, Florida 34240, and 1000 Corporate Dr., Suite 100, Ft. Lauderdale, Florida 33334. The website may be accessed through www.tdwood.com.
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
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