Miami, Florida—November 16, 2007—
Stephen Wechsler, Vice President for Thomas D. Wood and Company, secured financing in the amount of 1,925,000 for MNA Properties, LLC, an office building in Miami, Florida. Wechsler financed the bridge loan through a local banking institution at a rate of 8.0%. The loan term is three years, with a 25-year amortization, and a loan-to-value of 55%. The 43,655 square-foot, two-story office building was built in 1970, and is located at 18301 North Miami Avenue, Miami, 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:
Stephen Wechsler (305) 447-7820 swechsler@colliersawf.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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