ORLANDO, FL, aug. 10, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $13,970,000 for Golden Eagle Village Publix, Walgreens Pharmacy, and Coral Commons and Carmel Center.
Doug Rozzell, (top right photo) Company Principal, secured $9,197,000 in financing for the Golden Eagle Village Publix on July 26, 2010, through Thomas D. Wood and Company’s relationship with a national bank.
The construction/mini-perm loan has an interest rate of 30-day LIBOR plus 300 basis points, with a floor of 4%. The loan is interest-only during the 24 month construction period, followed by a 36 month mini permanent mortgage with principal and interest payments calculated using a 25 year amortization.
The loan-to-value is 58%, and loan-to-cost is 72%. The grocery-anchored retail center will contain 63,950 square feet, with three outparcels. The Golden Eagle Village Publix will be built on Highway 27 in Clermont, Florida.
The fixed-rate loan has a term of 10 years, with a rate reset for 10 years, based on a 25-year amortization and an interest rate of 6.75%. The loan-to-value is 65%. The 14,820 free-standing pharmacy was built in 2008, and is located at 1541 S. Ridgewood Avenue, Daytona Beach, Florida.
Jeff Schnupp, (middle right photo) Company Vice President, secured $2,500,000 in financing for Coral Commons and Carmel Center on July 23, 2010, through Thomas D. Wood and Company’s relationship with The Standard Life Insurance Company.
Carmel Center is a 8,400 square-foot retail/office, built in 1979, and located at 457 NE Jensen Beach Boulevard, Jensen Beach, Florida.
For further information, please contact:
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Steve Wood (305) 447-7836 swood@tdwood.com
Jeff Schnupp (407) 937-0470 jschnupp@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
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