MIAMI, FL,Sept. 1, 2011— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $14,700,000 for Villa Des Chenes and Homestead Town Square (top left photo).Steve Wood, Company Chief Operating Officer, secured financing for Villa Des Chenes in the amount of $1,450,000 through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company.
The fully-amortizing full-recourse loan has a term of 25 years, based on an interest rate of 5.5%. The loan-to-value is 69.86%. The borrower needed to refinance out of the previous mortgage that had matured.
The 38-unit multi-family complex was built in 1969, and is located at 1500 W. Bay Drive, Largo, Florida.
Wood also secured financing for Homestead Town Square in the amount of $13,250,000 through Thomas D. Wood and Company’s correspondent relationship with AIG. The non-recourse loan has a term of 10 years, based on a 25-year amortization and an interest rate of 5.38%. The loan-to-value is 60%.
The borrower needed to refinance out of the previous mortgage that had matured. The 205,614 square-foot retail center was built in 1994, and is home to major tenants Publix, Pet Supermarket, OfficeMax and Marshalls. Homestead Town Square is located at 803 Homestead Boulevard, Homestead, Florida.
For further information, please contact:
Steve Wood, (305) 447-7820, swood@tdwood.com
Jessica Kinnee,(407) 937-0470, jkinnee@tdwood.com
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