Orlando, Florida—November 1, 2007—
The Orlando Office of Thomas D. Wood and Company is pleased to announce the arrangement of financing for Pine Island Fountain Shoppes in the amount of $5,000,000, and Causeway Professional Center in the amount of $650,000. Financing for both properties was arranged by Company Vice President Jeff Schnupp.
Financing for Pine Island Fountain Shoppes was secured by Schnupp with StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed-rate of 6.375%. The loan has a 15-year term with a 15-year amortization, and a loan-to-value of 43%. Pine Island Fountain Shoppes was built in 2006, and is home to major tenants AT&T, Wells Fargo, and Prudential. The 40,151 square-foot retail center is located at 814 SW Pine Island Road, Cape Coral, Florida.
As with Pine Island Fountain Shoppes, Schnupp secured financing for the Causeway Professional Center with StanCorp Mortgage Investors in the amount of $650,000. The full-recourse loan was secured at a permanent fixed-rate of 6.50%, for a 15-year term with a 15-year amortization. The 10,123 square-foot office building is located at 417-431 North Causeway, New Smyrna 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, in addition to Wall Street. 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 1700 South MacDill Avenue, Suite 240 A, Tampa, Florida 33629, and 1215 Louisiana Avenue, Winter Park, Florida 32789. The website may be accessed through www.tdwood.com.
For further information, please contact:
Jeff Schnupp (407) 937-0470 jschnupp@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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