MIAMI, FL, July 20, 2011— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $14,000,000 for the Shoppes at Beacon Light (top left photo), Boca Raton Comprehensive Cancer Center (middle right photo) and Common Wealth Industrial Center.Steve Wood, Company Chief Operating Officer, secured financing for the Shoppes at Beacon Light in the amount of $8,100,000 through Thomas D. Wood and Company’s correspondent relationship with Advantus Capital Management.
The permanent fixed-rate loan has a term of 10 years, based on a 25-year amortization and an interest rate of 5.43%. The loan-to-value is 46.55%. The borrower refinanced the previous loan that was set to mature. The 98,048 square-foot Publix-anchored shopping center was built in 1957, 2000 and 2002, and is located at 2450 N. Federal Highway, Lighthouse Point, Florida.
Thomas D. Wood, Jr., (lower left photo) Company President, secured financing for Boca Raton Comprehensive Cancer Center in the amount of $3,000,000 through Thomas D. Wood and Company’s correspondent relationship with Summit Investment Partners. The loan has a term of 10 years, based on a 20-year amortization and an interest rate of 5.90%. The first four months are interest-only, and remaining term is fixed rate.
The loan-to-value is 74.9% and loan-to-cost is 71%. The borrower secured the loan to purchase the property, which was vacant at the time of acquisition. The 31,632 square-foot medical office building was built in 1999, and is located at 21020 N. State Road 7, Boca Raton, Florida.
Tom Wood also secured financing for the Common Wealth Industrial Center with Summit Investment Partners in the amount of $2,900,000. The fixed-rate loan has a term of 10 years, based on a 20-year amortization and an interest rate of 5.85%.
The loan-to-value is 66.58%. The borrower refinanced the former loan in order to pull some equity out of the property. The 108,795 square-foot multi-tenant flex industrial center was built in 1980, and is located at 3131 Irving Boulevard, Dallas, Texas.
The website may be accessed through http://www.tdwood.com./
For further information, please contact:
Steve Wood, (305) 447-7820, swood@tdwood.com
Tom Wood, Jr., (941) 552-9731, tomjr@tdwood.com
Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com
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