ORLANDO, FL, April 12, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,435,000 for the Social Security Administration office building in Port St. Lucie, Florida.
Doug Rozzell, (top right photo) Company Principal, financed the Social Security Administration office building through Thomas D. Wood and Company’s relationship with a regional bank in the amount of $3,435,000.
The construction period is interest-only for 12 months, followed by a mini-permanent loan based on a 20-year amortization. The interest rate is LIBOR + 300 basis points, floor of 6.75%. The Lender waived its normal pre-payment penalty.
The loan-to-value is 80% and loan-to-cost is 90%. The 14,960 square-foot single-tenant office will be built on 1.49 acres at 6810 S. US Highway 1, Port St. Lucie, Florida.
For further information, please contact:
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
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