MIAMI, FL, May 11, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $7,000,000 for Copper Pointe and Quail Park I Office Buildings in Las Vegas, Nevada.
Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed Copper Pointe through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $2,600,000.
The fixed-rate loan has a term of five years, with rate resets every five years, based on a 25-year amortization and an interest rate of 6.25%. The loan-to-value is 65%. The 34,685 square-foot office was built in 1988 and is home to major tenant Hand Surgery Specialist of Nevada. Copper Pointe is located at 4530-4570 S. Eastern Avenue, Las Vegas, Nevada.
The fixed-rate loan has a term of 10 years, based on a 25-year amortization and an interest rate of 6.90%.
The loan-to-value is 61%. The 73,444 square-foot office was built in 1980 and is home to major tenants Plaster Development Company and Global Industries. Quail Park I is located at 801 S. Rancho Drive, Las Vegas, Nevada.
For further information, please contact:
Steve Wood (305) 447-7836 swood@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
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