Miami, Florida – November 2, 2011 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $10,200,000. $1,200,000 for Shops of 7th Street in Miami, Florida, $4,000,000 for the Port 95-1 Ltd. Industrial Building in Hollywood, Florida and $5,000,000 for Merrill Industrial Center in Fort Lauderdale, Florida.
Thomas D. Wood, Jr., Company President, secured financing for the Shops of 7th Street in the amount of $1,200,000 through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing, full-recourse loan has a term of 20 years, based on an interest rate of 5.750% and a loan-to-value of 67%. The borrower wanted a fully amortizing loan that would take advantage of today’s low interest rates. The 14,700 square-foot retail strip center building was built in 1979 and is located at 2815 NW 7th Street, Miami, Florida.
Marshall Smith, Company Executive Vice President, secured financing for Port 95-1 Ltd, through Thomas D. Wood and Company's correspondent relationship with Kansas City Life Insurance Company in the amount of $4,000,000. The fixed-rate loan has a term of 10 years, based on a 25-year amortization, with a loan-to-value of 75%. The borrower wanted to refinance the loan to take advantage of today’s low interest rates before it matured in another year and a half. The 76,800 square-foot multi-tenant industrial complex was built in 1992, and is located at 3611-3655 SW 30th Avenue, Hollywood, Florida.
Steven H. Wood, Company Chief Operating Officer, secured financing for Merrill Industrial Center in the amount of $5,000,000 through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company. The 10 year, 25 year amortizing, non-recourse loan is based on an interest rate of 5.40% and a loan-to-value of 69.44%. The borrowers refinanced a matured loan. The 134, 342 square-foot industrial complex sits on 8.46 acres of land and was originally built in 1969/1992.Merrill Industrial Center is located at 3400-3406 SW 26 Terrace, Fort Lauderdale, 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 fifteen major life insurance companies, and is also a member of Strategic Alliance Mortgage LLC (SAM), a unique company consisting of 23 members who are all individually owned, commercial real estate investment/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 2105 Park Avenue North, Winter Park, Florida 32789, and 7349 Professional Parkway East, Sarasota, Florida 34240. The website may be accessed through www.tdwood.com.
Thomas D. Wood, Jr. (305) 447-7820 tomjr@tdwood.com
Marshall Smith (305) 447-7820 msmith@tdwood.com
Steven H. Wood (305) 447-7820 swood@tdwood.com
Ashlee Wood (305) 776-3949 ashlee@tdwood.com
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