Social Security Administration Buildings Obtain $3.7M Financing in Lake City and St. Augustine, FL

ORLANDO, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,707,043 for the Social Security Administration (SSA) Buildings in Lake City and St. Augustine, Florida.

Doug Rozzell, (top right photo)  Company Principal, financed the SSA Lake City Building through Thomas D. Wood and Company’s relationship with a regional bank in the amount of $1,905,345.

 The mini-permanent loan has a term of three years, based on a 20-year amortization. The loan-to-value is 80% and loan-to-cost is 85%, with an interest rate of LIBOR + 300 basis points, floor of 6.75%. The 9,432 square-foot single-tenant office was built in 2009 and is located on Bascom Norris Drive, Lake City, Florida.

Rozzell also financed the SSA St. Augustine Building through a regional bank in the amount of $1,801,698. The mini-permanent loan has a term of three years, based on a 20-year amortization.

The loan-to-value is 80% and loan-to-cost is 90%, with an interest rate of 6.75%. The 7,306 square-foot single-tenant office was built in 2009 and is located at 2440 Old Moultrie Road, St. Augustine, Florida.

Contacts:
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com