Miami, Florida – May 21, 2009 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on May 19, 2009, in the amount of $3,200,000 for Quail Corners II and III in Reno, Nevada.
Steve Wood, Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed Quail Corners II in the amount of $1,850,000 through Thomas D. Wood and Company’s correspondent relationship with the Standard Life Insurance Company at an interest rate of 6.625%. The loan term is five years, and can be reset every five years, based on a 25-year amortization and a loan-to-value of 66%. The 15,251 square-foot office building is home to major tenant Select Real Estate of Nevada. Quail Corners II was built in 1999 and is located at 6512 S. McCarran Boulevard, Reno, Nevada.
Together they also financed Quail Corners III in the amount of $1,350,000 through Thomas D. Wood and Company’s correspondent relationship with the Standard Life Insurance Company at an interest rate of 6.625%. The loan term is five years, and can be reset every five years, based on a 25-year amortization and a loan-to-value of 60%. The 11,001 square-foot office building is home to major tenant Charles Schwab & Company. Quail Corners III was built in 1999 and is located at 6502 S. McCarran Boulevard, Reno, Nevada.
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 Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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