Miami, Florida—January 21, 2008—
Ben Jimenez, Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $5,870,000 for Doral Commerce Park and 314 Miracle Mile Retail.
Jimenez arranged financing in the amount of $4,800,000 for the Doral Commerce Park Units 5 to 10 in Doral, Florida. Jimenez financed the loan through StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed rate of 6.5%. The loan term is 25 years with a 25-year amortization, and a loan-to-value of 75%. The six industrial warehouse condominiums total 51,200 square-feet, and were built in 2004. Doral Commerce Park is located at 5800 NW 97th Avenue, Doral, Florida.
As with the Doral Commerce Park, Jimenez financed the retail building at 314 Miracle Mile, Coral Gables, Florida, through StanCorp Mortgage Investors. The loan was secured at a permanent fixed rate of 6.6% for a 25-year term and a 25-year amortization, in the amount of $1,070,000. The loan-to-value is 75%. The 2,076 square-foot retail building will be home to J. Bolado Clothiers, and is located at 314 Miracle Mile, Coral Gables, 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, in addition to Wall Street. 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 1700 South MacDill Avenue, Suite 240 A, Tampa, Florida 33629, and 1215 Louisiana Avenue, Suite 100, Winter Park, Florida 32789. The website may be accessed through www.tdwood.com.
Ben Jimenez (305) 447-7820 bjimenez@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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