SARASOTA, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on May 4, 2009, in the amount of $6,800,000 for the Extra Space Storage (top right photo) facilities in Pasadena and Annapolis, Maryland.
Brad Cox, (middle left photo) CCIM, CPM, Company Vice President, along with Peyton Cross of Cross Capital Advisory, LLC, from Northern Virginia, financed the Extra Space Storage in Pasadena, Maryland in the amount of $3,000,000 through a community bank.
The loan has an interest rate of 6.25% for the first three years, then floating at 250 basis points over the then current three-year Treasury, fixed for the balance of the loan term. The loan term is six years, based on a 30-year amortization and a loan-to-value of 65%.
The 47,905 square-foot self-storage facility was built in 1992 and is located at 8919 Ft. Smallwood Road, Pasadena, Maryland.Together they also financed the Extra Space Storage in Annapolis, Maryland, in the amount of $3,800,000 through a community bank.
The loan has an interest rate of 6.25% fixed for three years, then floating at 250 basis points over the then current three-year Treasury, fixed for the balance of the loan term. The loan term is six years, based on a 30-year amortization, and a loan-to-value of 65%.
The 64,084 square-foot self-storage facility was built in 1994 and is located at 2000 Trout Road and 2023 Renard Court, Annapolis, Maryland.
For further information, please contact:
Brad Cox (941) 552-9731 bcox@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
Brad Cox (941) 552-9731 bcox@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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