Orlando, Florida – July 29, 2009 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured construction financing on July 28, 2009, in the amount of $9,330,000 for Loch Leven Landing in Mount Dora, Florida.
Doug Rozzell, Company Principal, financed Loch Leven Landing, a grocery-anchored shopping center, through Thomas D. Wood and Company’s relationship with two community banks. The construction/mini-permanent loan has an interest rate of Prime + 1.5% floating with a floor of 5.875%. The loan term is 24 months interest-only, converting to a 36-month mini-perm, based on a 25-year amortization. Loan-to-value is 75% and loan-to-cost is 85%. The 71,540 square-foot retail center will be home to major tenant Publix, and will be built on 15.03 acres at the intersection of US 441 and SR 44 in Mount Dora, 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.
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
###
|