ORLANDO, FL, Mar. 29, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,085,000 for Pepperwood Apartments, Strawberry Place Apartments, and Lazy Acres Mobile Home Park.
Doug Rozzell, Company Principal, financed Pepperwood Apartments through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $1,450,000. The loan has a 5+5+5+5+5-year term, based on a 25-year amortization and an interest rate of 6.90%. The loan-to-value is 70%.
The 72-unit apartment complex was built in 1974 and is located at 13725 Susan Kay Drive, Tampa, Florida.
As with Pepperwood Apartments, Rozzell also financed Strawberry Place Apartments through The Standard Life Insurance Company in the amount of $1,150,000. The loan has a 5+5+5+5+5-year term, based on a 25-year amortization and an interest rate of 6.90%. The loan-to-value is 70%. The 55-unit apartment complex was built in 1982 and is located at 1400 Strawberry Place, Plant City, Florida.
Rozzell financed the Lazy Acres Mobile Home Park through Thomas D. Wood and Company’s relationship with a local bank in the amount of $535,000. The interest rate is fixed at 6.75% for a five-year term, based on a 25-year amortization. The loan-to-value is 50%. The 50-pad mobile home park is located on 2.34 acres at 14011 N. Nebraska Avenue, Tampa, Florida.
For further information, please contact:
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
Monday, March 29, 2010
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