Monday, May 18, 2009

Thomas D. Wood & Co. Brokers $3.14M Loan for CVS in Ft. Pierce, FL

FORT LAUDERDALE, FL, May 18, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured construction financing on May 13, 2009, in the amount of $3,140,000 for a CVS Pharmacy in Ft. Pierce, Florida.

Patrick Madore, (top right photo) Company Vice President, financed the CVS Pharmacy through Thomas D. Wood and Company’s relationship with a regional bank.

The construction/mini-perm loan has an interest rate of 6%, and is interest-only for the first year. The loan term is five years, based on a 25-year amortization. Loan-to-value is 75% and loan-to-cost is 90%.
The 14,000 square-foot retail building will be built on two acres of land on US Highway 1 in Ft. Pierce, Florida.

The website may be accessed through http://www.tdwood.com/.

For further information, please contact:
Patrick Madore, (954) 233-6024, pmadore@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
Posted by Alex at 1:03 PM
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