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| Doug Rozzell |
Tampa, FL – Tampa Office of Thomas D. Wood Company, a
Strategic Alliance Mortgage LLC member, secured $8,730,000 in commercial
mortgage transactions for properties throughout the state of Florida. Interest rates continue to stay as low as
4%, contributing to the increase in successful closings.
Senior Vice
President Doug Rozzell, obtained bridge financing in the amount of
$3,200,000 for the purchase and renovation of the River City Place Apartments,
a 120-unit multi-family property in Jacksonville, Florida.
The borrower, a fund based outside of the United States, was
purchasing a Class C apartment complex that needed significant capital
improvement dollars to convert it to a Class B property.
Rozzell arranged the bridge loan based upon a long-standing
relationship with a Florida-based capital source, who will also be funding 60%
of the renovation funds to upgrade the apartment complex to a Class B status.
Rozzell secured
financing for University Terrace, a 7,426 square-foot retail plaza in Orlando,
Florida, in the amount of $3,850,000.
The borrowers were seeking to refinance an asset that contained a credit
tenant as part of the income stream, but had never built on the site it was
leasing. Rozzell secured a loan with a
regional bank, providing the borrower a permanent fixed-rate loan with a term
of 10 years, based on a 25-year amortization and an interest rate of 4.10%.
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| Shoppes at Vista Lakes, Orlando, FL |
Rozzell also
obtained financing for the 2105 Building, an office building in Winter Park,
Florida, in the amount of $780,000, and Shoppes at Vista Lakes, a multi-tenant
retail plaza in Orlando, Florida, in the amount of $900,000.
For a complete copy of the company’s news release, please
contact:
Jessica Kinnee,
Director, Marketing & Public Relations,
Thomas D. Wood & Co.,
407 374 0251
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