Thursday, October 9, 2014

Thomas D. Wood and Company’s Miami Office Secures $17,195,807 in Commercial Mortgage Transactions

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Steve Wood
Miami, FL  – The Miami Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $17,195,807 in commercial mortgage transactions for properties throughout the state of Florida.  Interest rates continue to stay as low as 4.0%, contributing to the increase in successful closings.

Company Chief Operating Officer Steve Wood obtained financing in the amount of $2,600,000 for the San Pablo Family Center through Thomas D. Wood and Company’s correspondent relationship with The Standard.  The permanent non-recourse loan has a term of 25 years, with an interest rate reset at years 10 and 20, based on a 25-year amortization.  The 47,455 square-foot retail center was built in 1988 and is located in Jacksonville, Florida.

Wood also secured financing through The Standard in the amount of $1,100,000 for EM Shopping Center.  The permanent full-recourse loan has a term of 25 years, with an interest rate reset at years 10 and 20, based on a 25-year amortization.  The 10,234 square-foot retail center is located in Hialeah, Florida.

Patrick Harrington
Company Senior Vice President Patrick Harrington secured financing in the amount of $5,800,000 for the Sarno Business Center in Melbourne, Florida.  The fixed-rate non-recourse loan has a term of 10 years, based on a 25-year amortization.  The 140,027 square-foot retail and office building is home to major tenants Brevard Health Alliance and American Title.

Company Vice President Michael Kramer obtained financing in the amount of $1,500,000 for Ventura Properties through Symetra Life Insurance Company.  Kramer refinanced the three multi-family properties, providing the borrower a fixed-rate fully-amortizing loan with a term of 15 years.  Ventura Properties are located in Miami Beach, Florida.

Additional commercial mortgage transactions done by Wood include:  The refinancing for Lucien Green Office, an office building located in Maitland, Florida, in the amount of $1,778,414, and the refinancing for Kissimmee Value Outlet Shoppes, which is located in Kissimmee, Florida, in the amount of $4,417,393.

For a complete copy of the company’s news release, please contact:

Jessica Kinnee              
Director of Marketing & PR               
Thomas D. Wood & Co.
(407) 374-0251

       

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