ORLANDO, FL—Feb. 4, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,125,000 for Kirkman Family Dollar and Westgate Mobile Home Manor.(top right photo). John Worrell, Company Assistant Vice President, financed Kirkman Family Dollar through Thomas D. Wood and Company’s relationship with a regional bank in the amount of $1,300,000.
The construction/permanent loan has a five-year term, based on a 25-year amortization, with 16 months interest-only during the construction period.
The interest rate is 7% during construction and 7.5% for the permanent loan. Loan-to-value is 65% and loan-to-cost is 55%. The 9,180 square-foot single-tenant retail building will be built on 1.6 acres on th
e west side of South Kirkman Road, just north of Old Winter Garden Road in Orlando, Florida.
e west side of South Kirkman Road, just north of Old Winter Garden Road in Orlando, Florida. Jeff Schnupp, Company Vice President, financed Westgate Mobile Home Manor through Thomas D. Wood and Company’s relationship with a community bank in the amount of $825,000.
The loan has a three-year term, based on a 25-year amortization and an interest rate of 7%. The loan-to-value is 75%. The mobile home park was built in 1984, and sits on 3.46 acres at 7499 1/2 46th Street, St. Petersburg, Florida.
For further information, please contact:
John Worrell, (407) 937-0470, jworrell@tdwood.com
For further information, please contact:
John Worrell, (407) 937-0470, jworrell@tdwood.com
Jeff Schnupp, (407) 937-0470. jschnupp@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com
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