Orlando, Florida – February 4, 2009 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,125,000 for Kirkman Family Dollar and Westgate Mobile Home Manor.
John Worrell, Company Assistant Vice President, financed Kirkman Family Dollar through Thomas D. Wood and Company’s relationship with a regional bank in the amount of $1,300,000. The construction/permanent loan has a five-year term, based on a 25-year amortization, with 16 months interest-only during the construction period. The interest rate is 7% during construction and 7.5% for the permanent loan. Loan-to-value is 65% and loan-to-cost is 55%. The 9,180 square-foot single-tenant retail building will be built on 1.6 acres on the west side of South Kirkman Road, just north of Old Winter Garden Road in Orlando, Florida.
Jeff Schnupp, Company Vice President, financed Westgate Mobile Home Manor through Thomas D. Wood and Company’s relationship with a community bank in the amount of $825,000. The loan has a three-year term, based on a 25-year amortization and an interest rate of 7%. The loan-to-value is 75%. The mobile home park was built in 1984, and sits on 3.46 acres at 7499 1/2 46th Street, St. Petersburg, 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 19 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, 6802 Honeysuckle Trail, Lakewood Ranch, Florida 34202, 1000 Corporate Dr., Ste. 100, Ft. Lauderdale, Florida 33309 and 1700 South MacDill Avenue, Suite 240 A, Tampa, Florida 33629. The website may be accessed through www.tdwood.com.
John Worrell (407) 937-0470 jworrell@tdwood.com
Jeff Schnupp (407) 937-0470 jschnupp@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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