CORAL GABLES, FL -- Thomas D. Wood and Company, a Strategic Alliance Mortgage, LLC. member, secured financing in the total amount of $22,000,000 for projects in Florida and Kentucky
- $1,700,000 for Tractor Supply Company Store in Williamsburg, Kentucky (top left photo).
- $1,275,000 for 129 Hibiscus Boulevard in Melbourne, Florida,
- $1,150,000 for Viera Self Storage in Rockledge, Florida,
- $1,600,000 for Gateway Commons in Altamonte Springs, Florida,
- $13,550,000 for Navarro Discount Pharmacy Headquarters in Medley, Florida,
- $1,000,000 for Residences at 2nd Street and Pebble Court Apartments in Fort Myers, Florida
- $1,725,000 for Dollar General in Jacksonville, Florida and Dollar General in Holly Hill, Florida.
Steven H. Wood (top right photo), Company Chief Operating Officer, secured financing for the Tractor Supply Company Store in the amount of $1,700,000 through Thomas D. Wood and Company's correspondent relationship with American Fidelity Life Assurance Company. The permanent, fully-amortizing, non-recourse loan has a term of 15 years, based on an interest rate of 5.75% and a loan-to-value of 64.15%. The borrower wanted long term debt to pay off a maturing construction loan. The 19,097 square-foot single-tenant retail building was built in 2011 and is located at 159 Penny Lane, Williamsburg, Kentucky 40769.
Thomas D. Wood Jr., (middle left photo) Company President, secured financing for 129 Hibiscus Boulevard in the amount of $1,275,000 through Thomas D. Wood and Company's correspondent relationship with StanCorp Mortgage Investors, LLC. The permanent, full-recourse loan has a term of ten years plus a ten year option, twenty year amortization, an interest rate of 5.375% and a loan-to-value of 68.7%. The borrower wanted to refinance an existing loan that was maturing. The 27,210 square-foot multi-tenant office building was built in 1981 and is located at 129 W. Hibiscus Boulevard, Melbourne, Florida 32901.
Thomas D. Wood Jr. also secured financing for Viera Self Storage (middle right photo) in the amount of $1,150,000 through Thomas D. Wood and Company's correspondent relationship with StanCorp Mortgage Investors, LLC. The permanent, fully-amortizing, full-recourse loan has a term of 15 years, based on an interest rate of 5.50% and a loan-to-value of 61%. The borrower wanted to refinance an existing loan that was maturing. The 74,487 square-foot self-storage building was built in 1999 and is located at 5900 South US Highway 1, Rockledge, Florida 32955.
Joe Dear (lower left photo), Company Vice President, secured financing for Gateway Commons in the amount of $1,600,000 through Thomas D. Wood and Company's correspondent relationship with StanCorp Mortgage Investors, LLC. The permanent, five year, 25 year amortizing loan is based on an interest rate of 5% and has a loan-to-value of 70%. The borrower wanted to refinance a maturing CMBS loan. The 9,600 square-foot multi-tenant retail building was built in 2005 and is located at 821 S. State Road 434, Altamonte Springs, Florida 32714.
Dear also secured financing for Navarro Discount Pharmacy Headquarters (lower right aerial photo) in the amount of $13,550,000. The borrower was able to refinance an existing bank loan through Thomas D. Wood and Company's correspondent relationship with American National Insurance Company. The permanent, five year loan with a 25 year amortization schedule has a loan-to-value of 75%. The 271,540 square-foot owner-occupied industrial building was built in 1996 and is located at 9400 NW 104 Street, Medley, Florida 33178.
Brad Cox (bottom left photo), CCIM, CPM, Company Vice President, secured financing for both the Residences at 2nd Street and Pebble Court Apartments in the amount of $1,000,000. The permanent, fully-amortizing loan has a term of 25 years, based on an interest rate of 5.375% and a loan-to-value of 70%. The Residences at 2nd Street is a 16 unit multi-family property situated on 1.02 acres of land, was built in 1983, remodeled in 2011 and is located at 2575 2nd Street, Fort Myers, Florida 33901. The Pebble Court Apartments is a 20 unit multi-family property located on 0.78 acres, was built in 1984, remodeled in 2011 and can be found at 2974 Jackson Street, Fort Myers, Florida 33901.
Cox also secured financing for two Dollar General Stores in the amount of $1,725,000. The permanent, five year loan with a 25 year amortization schedule has a loan-to-value of 63%. The retail properties are both 9,002 square-feet. Dollar General Jacksonville sits on 1.17 acres, was built in 2011 and is located at 10171 New Kings Road, Jacksonville, Florida 32219. Dollar General Holly Hill (bottom right photo) is situated on 1.47 acres, was built in 2011 and can be found at 1800 North Nova Road, Holly Hill, 32117.
For further information, please contact:
Ashlee E. Wood
Director of Marketing and Public Relations
(305) 447-7834
Steven H. Wood
Chief Operating Officer
(305) 447-7836
Thomas D. Wood Jr.
President
(305) 447-7823
Joe Dear
Vice President
(407) 937-0470 ext. 7
Brad Cox, CCIM, CPM
Vice President
(941) 552-9731
1 comment:
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