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| Patrick Madore |
Boca Raton, FL – Nov. 3, 2014 – The Boca Raton Office of
Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured
$8,215,000 in commercial mortgage transactions for properties throughout the
states of Missouri, Illinois, Louisiana, and Florida.
Interest rates continue to stay as low as 4.0%, contributing to
the increase in successful closings.
Senior Vice President Patrick Madore, accepted the
challenge in securing financing in the amount of $660,000 for the Popeye’s
Restaurant in Raytown, Missouri.
The borrower was purchasing a sale lease-back property through a 1031
exchange and needed financing.
Madore secured financing through Thomas D. Wood and
Company’s correspondent relationship with Symetra Life Insurance Company,
providing the borrower with a competitive fixed rate, and closed the loan on
the date specified for the 1031 exchange.
Madore secured financing for the CVS Pharmacy in the amount
of $2,850,000 through Symetra Life Insurance Company. The permanent non-recourse loan has a term of 20 years, based on
a 25-year amortization. The 13,824 square-foot
single-tenant retail building is located in Baton Rouge, Louisiana.
Madore obtained financing for the Checkers Drive-In
Restaurant and Billboard in the amount of $715,000 through Symetra Life
Insurance Company.
The borrower was
purchasing the property through a 1031 exchange. Madore secured a permanent non-recourse loan with a term of 15
years, based on a 25-year amortization.
The restaurant is located in Maywood, Illinois.
Madore secured financing for Canterbury Place Apartments in
the amount of $2,250,000 through Thomas D. Wood and Company’s correspondent
relationship with Ameritas Investment Partners. Madore obtained long-term financing for the borrower with a very
favorable interest rate. The permanent
fixed-rate loan has a term of 15 years, based on a 20-year amortization. The 80-unit multi-family property is located
in Vero Beach, Florida.
Madore obtained financing for Chesnutt Plaza in the amount
of $1,740,000 through Thomas D. Wood and Company’s relationship with a national
bank.
The permanent fixed-rate loan has
a term of 10 years, based on a 20-year amortization and a loan-to-value of
80%. The 15,000 square-foot mixed-use
medical office and retail building is located in Vero Beach, Florida.
For a complete
copy of the company’s news release, please contact:
Jessica Kinnee
Director of Marketing & Public Relations
Thomas D. Wood & Co.
(407) 374-0251
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