Miami, Florida – March 30, 2010 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $1,975,000 for McCarran Building E and CMC Leasing.
Steve Wood, Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed McCarran Building E through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $875,000. The loan term is 5+5+5+5+5 years, based on a 25-year amortization and an interest rate of 6.75%. The loan-to-value is 50%. The 9,991 square-foot office was built in 1989 and is home to major tenant The Ribeiro Companies. McCarran Building E is located at 6490 S. McCarran Boulevard, Reno, Nevada.
Wood, along with Susan Murry of Skyline Mortgage Services, financed the CMC Leasing Office Building through The Standard Life Insurance Company in the amount of $1,100,000. The loan term is 5+5+5+5+5 years, based on a 25-year amortization and an interest rate of 6.875%. The loan-to-value is 61%. The 10,570 square-foot office was built in 1975, and is located at 742 US Highway 1, North Palm 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.
Steve Wood (305) 447-7820 swood@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
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