Pompano Merchandise Mart Receives $3M MIAMI, FL, Mar. 30, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 25, 2009, in the amount of $3,000,000 for the Pompano Merchandise Mart (top right photo) in Pompano Beach, Florida.
Marshall Smith, (middle left photo) Company Executive Vice President, financed the Pompano Merchandise Mart through Thomas D. Wood and Company’s correspondent relationship with Southern Farm Bureau Life Insurance Company.
The non-recourse loan is a full cash-out refinance with an interest rate of 6.5% and a five-year term, based on a 25-year amortization. The loan to value is 38%. The three-building, 118,217 square-foot industrial project is located at 2099 and 2101 West Atlantic Boulevard, Pompano Beach, Florida.Contacts:
Marshall Smith, (305) 447-7820, msmith@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com
Metro Office Building in Lake Worth, FL Obtains $2M
FORT LAUDERDALE, FL—Mar. 30, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 27, 2009, in the amount of $2,000,000 for the Metro Office Building in Lake Worth, Florida.
FORT LAUDERDALE, FL—Mar. 30, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 27, 2009, in the amount of $2,000,000 for the Metro Office Building in Lake Worth, Florida.
Patrick Madore, (bottom right photo) Company Vice President, financed the Metro Office Building through Thomas D. Wood and Company’s relationship with a local bank. The loan has an interest rate of Prime + 1% and a five-year term, based on a 25-year amortization. The loan-to-value and loan-to-cost is 50%.
The 12,000 square-foot office building was built in 1977 and is located at 1000 N. Dixie Highway, Lake Worth, Florida.
Contacts:
Patrick Madore, (954) 233-6024, pmadore@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com
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