Ft. Lauderdale, Florida – July 7, 2009 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured construction financing on June 30, 2009, in the amount of $5,550,000 for Ross Motor Sports, a Ferrari dealership in Vancouver, British Columbia.
Patrick Madore, Company Vice President, financed the Ross Motor Sports through Thomas D. Wood and Company’s relationship with a Canadian bank. The loan is floating at 350 over LIBOR, with a five-year term, based on a 20-year amortization. The loan-to-value is 55%, and loan-to-cost is 50%. The 26,506 square-foot Ferrari dealership will be built on 0.256 acres at 1898 Burrard Street, Vancouver, British Columbia.
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.
Patrick Madore (954) 233-6024 pmadore@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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