MIAMI, FL, Jan. 25, 2012 -- Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of
- $16,190,000. $970,000 for the 8th Avenue Shopping Center in Palmetto, Florida,
- $1,720,000 for the Mary Matha Shopping Center in Fort Pierce, Florida, $1,200,000 for the Dollar General in Apopka, Florida,
- $1,000,000 for the Dollar General in Orlando, Florida,
- $1,100,000 for the Shoppes of East Deltona in Deltona, Florida,
- $1,200,000 for the Shops of 7th Street in Miami, Florida,
- $4,000,000 for the Port 95-1 Ltd Industrial Building in Hollywood, Florida and $5,000,000 for the Merrill Industrial Center in Fort Lauderdale, Florida.
Brad Cox, CCIM, CPM, Company Vice President, secured financing for the 8th Avenue Shopping Center in the amount of $970,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company.
The permanent, fully-amortizing, full-recourse loan has a term of 15 years, based on an interest rate of 5.75%, and a loan-to-value of 66%. The borrower wanted a fully amortizing loan that would take advantage of today's low interest rates. The 12,100 square-foot retail complex was built in 2005 and is located at 1162-1190 8th Avenue West, Palmetto, Florida 34221.
Cox also secured financing for the Mary Matha Shopping Center in the amount of $1,720,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing loan has a term of 15 years, based on an interest rate of 5.5% and a loan-to-value of 50%. The 36,364+ square-foot multi-tenant retail shopping center was built in 1979 and was remodeled in 2011. Mary Matha Shopping Center is located at 3205-3223 South US Highway 1, Fort Pierce, Florida 34982.
Joe Dear, Company Vice President, secured financing for Dollar General Apopka in the amount of $1,200,000 through Thomas D. Wood and Company's correspondent relationship with The First Colony Bank. The permanent fully-amortizing, full-recourse loan has a term of 15 years, based on an interest rate of prime +1% and a loan-to-value of 70%. The borrower needed a construction loan for a build-to-suit single tenant facility. The 9,100 square-foot single-tenant retail building is in the process of being built and is located at 1712 Rock Springs Road, Apopka, Florida 32712.
Dear also secured financing for Dollar General Orlando in the amount of $1,000,000 through Thomas D. Wood and Company's correspondent relationship with The Ohio National Life Insurance Company. The permanent, fully-amortizing, non-recourse loan has a term of 15 years, based on an interest rate of 5.50% and a loan-to-value of 70%. The borrower wanted a long term, fixed rate loan secured by a recently completed Dollar General Store. The 9,100 square-foot single-tenant retail building was built in 2011 and is located at 7965 Valencia College Lane, Orlando, Florida 32825.
Jeff Schnupp, Company Vice President, secured financing for the Shoppes of East Deltona in the amount of $1,100,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing loan has a term of 15 years, based on an interest rate of 5.625% and a loan-to-value of 67%. The 8,450 square-foot multi-tenant retail strip center was built in 2009 and is located at 121 Howland Boulevard, Deltona, Florida 32738.
Thomas D. Wood, Jr., Company President, secured financing for the Shops of 7th Street in the amount of $1,200,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing, full-recourse loan has a term of 20 years, based on an interest rate of 5.750% and a loan-to-value of 67%. The borrower wanted a fully amortizing loan that would take advantage of today's low interest rates. The 14,700 square-foot retail strip center building was built in 1979 and is located at 2815 NW 7th Street, Miami, Florida 33125.
Marshall Smith, Company Executive Vice President, secured financing for Port 95-1 Ltd, through Thomas D. Wood and Company's correspondent relationship with Kansas City Life Insurance Company in the amount of $4,000,000. The fixed-rate loan has a term of 10 years, based on a 25-year amortization, with a loan-to-value of 75%. The borrower wanted to refinance the loan to take advantage of today's low interest rates before it matured in another year and a half. The 76,800 square-foot multi-tenant industrial complex was built in 1992, and is located at 3611-3655 SW 30th Avenue, Hollywood, Florida 33312.
Steven H. Wood, Company Chief Operating Officer, secured financing for Merrill Industrial Center in the amount of $5,000,000 through Thomas D. Wood and Company's correspondent relationship with Symetra Life Insurance Company. The 10 year, 25 year amortizing, non-recourse loan is based on an interest rate of 5.40% and a loan-to-value of 69.44%. The borrowers refinanced a matured loan. The 134, 342 square-foot industrial complex sits on 8.46 acres of land and was originally built in 1969/1992. Merrill Industrial Center is located at 3400-3406 SW 26 Terrace, Fort Lauderdale, Florida 33312.
For further information, please contact:
Ashlee Wood
Director of Marketing and Public Relations
(305) 447-7834
Brad Cox, CCIM, CPM
Vice President
(941) 552-9731
Joe Dear
Vice President
(407) 937-0470 ext. 7
Jeff Schnupp
Vice President
(407) 937-0470 ext. 3
Thomas D. Wood Jr.
President
(305) 447-7823
Marshall Smith
Executive Vice President
(305) 447-7825
Steven H. Wood
Chief Operating Officer
(305) 447-7836
