Miami, Florida – November 25, 2008 –
Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,400,000 for Palm Bay Studios in Miami, Florida. Stephen Wechsler, Company Vice President, financed the loan through Thomas D. Wood and Company’s relationship with a community banking institution at a permanent fixed-rate of 6.25%. The loan term is five years, based on a 25-year amortization, and a loan-to-value of 35%. The 92,200 square-foot industrial building was built in 1946 and is located at 395 NE 59th Street, 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, and is also a member of the Strategic Alliance Mortgage (SAM), a unique company consisting of 19 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, 6802 Honeysuckle Trail, Lakewood Ranch, Florida 34202, 1000 Corporate Dr., Ste. 100, Ft. Lauderdale, Florida 33309 and 1700 South MacDill Avenue, Suite 240 A, Tampa, Florida 33629. The website may be accessed through www.tdwood.com.
Stephen Wechsler (305) 447-7874 swechsler@colliersawf.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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