MIAMI, FL— Stephen Wechsler, (top right photo) Vice President for Thomas D. Wood and Company, secured financing in the amount of $7,500,000 for the Inn on North Bay, a Best Western Hotel and Shuckers Restaurant in North Bay Village, Florida.The loan was financed through Thomas D. Wood and Company’s relationship with a local banking institution at a permanent fixed rate of 6.0%. The loan term is five years based on a 25-year amortization, and a loan-to-value of 38%.
The borrower refinanced the Inn on North Bay to renovate the 119-room hotel and attached restaurant. Inn on North Bay was built in 1967 and is located at 1819 79th Street Causeway, North Bay Village, Florida.
CONTACTS:
Stephen Wechsler (305) 447-7874 swechsler@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com
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