Miami, Florida—December 20, 2007—
Alan R. Cohen, Vice President for Thomas D. Wood and Company, arranged financing in the amount of $14,271,000 for Czarnowski Distribution Center, Sleep Inn Palm Coast and Suburban Extended Stay Lakeland.
Cohen arranged financing in the amount of $6,375,000 for the Czarnowski Distribution Center in Atlanta, Georgia, through a national banking institution at a permanent fixed rate of 6.50%. The loan term is 10-years with a 30-year amortization, and a loan-to-value of 75%. The 284,000 square-foot industrial center was built in 1963 and renovated in 2002. Czarnowski Distribution Center is located at 1200 White Street, Atlanta, Georgia.
Cohen secured financing for the Sleep Inn Palm Coast in the amount of $3,850,000, and Suburban Extended Stay Lakeland in the amount of $4,046,000; both properties were financed through a regional banking institution at a permanent fixed-rate of 7.0%. The loan term for both properties is five years with a 30-year amortization, and a loan-to-value of 70%. The 78-room Sleep Inn was built in 1996, and is located at 10 Kingswood Drive, Palm Coast, Florida. The 138-room Suburban Extended Stay was built in 2000, and is located at 4335 Williamstown Boulevard, Lakeland, 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, Suite 100, Winter Park, Florida 32789. The website may be accessed through www.tdwood.com.
Alan R. Cohen (305) 447-7820 acohen@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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