Miami, Florida – March 30, 2009 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 25, 2009, in the amount of $3,000,000 for the Pompano Merchandise Mart in Pompano Beach, Florida. Marshall Smith, Company Executive Vice President, financed the Pompano Merchandise Mart through Thomas D. Wood and Company’s correspondent relationship with Southern Farm Bureau Life Insurance Company. The non-recourse loan is a full cash-out refinance with an interest rate of 6.5% and a five-year term, based on a 25-year amortization. The loan to value is 38%. The three-building, 118,217 square-foot industrial project is located at 2099 and 2101 West Atlantic Boulevard, Pompano Beach, 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.
Marshall Smith (305) 447-7820 msmith@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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