MIAMI, FL, July 1, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on June 30, 2009, in the amount of $5,250,000 for Sierra Quail Office and Quail Medical Center in Reno, Nevada.Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed Sierra Quail Office in the amount of $2,550,000 through Thomas D. Wood and Company’s correspondent relationship with the Standard Life Insurance Company at an interest rate of 6.625%.
The loan term is five years, and can be reset every five years, based on a 25-year amortization and a loan-to-value of 63.75%. The 30,486 square-foot office building is home to major tenants United Healthcare Group and Career Choices of Nevada. Sierra Quail was built in 1995 and is located at 6880 S. McCarran Boulevard, Reno, Nevada.
Together they also financed Quail Medical Center in the amount of $2,700,000 through Thomas D. Wood and Company’s correspondent relationship with the Standard Life Insurance Company at an interest rate of 6.625%.
The loan term is five years, and can be reset every five years, based on a 25-year amortization and a loan-to-value of 57.45%.The 23,140 square-foot office building is home to major tenants Reno Neurological Associates and Sierra Regional. Quail Medical Center was built in 1996 and is located at 6630 S. McCarran Boulevard, Reno, Nevada.
For further information, please contact:
Steve Wood, (305) 447-7820, swood@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com
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