T.D. Wood Brokers $13.9M in New Florida Retail Loans

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.

Steve Wood,  (middle left photo) Company Chief Operating Officer, secured $4,000,000 in financing for Walgreens Pharmacy on July 13, 2010, through Thomas D. Wood and Company’s correspondent relationship with Symetra Financial.

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.

The fixed-rate loan has a term of five years, based on a 25-year amortization, and an interest rate of 6.25%. The loan-to-value is 58%. Coral Commons is a 31,000 square-foot retail/office, built in 1992 and 2004, and located at 103 Del Prado North Boulevard, Cape Coral, Florida.

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