Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member,
secured financing in the amount of $4,530,000 for AT&T Wireless, Flamingo West Apartments and Mims Warehouse.
Doug Rozzell, Company Principal, secured $1,400,000 in construction financing for AT&T Wireless on August 10, 2010, through Thomas D. Wood and Company’s relationship with a regional bank. The construction loan is six months, with an interest rate of LIBOR + 325 basis points, with a floor rate of 4%. The construction loan will be followed by a 60-month minipermanent loan. The loan-to-value is 70% and loan-to-cost is 85%. The 3,545 square-foot single-tenant retail building was originally built in 1996 for KFC and loan proceeds were used to renovate into a AT&T Wireless store which will occupy the building for an initial term of 10 years. The property is located at 534 River Highway, Mooresville, North Carolina.
John Worrell, Company Assistant Vice President, secured $2,350,000 in financing for the Flamingo West Apartments on August 11, 2010, through Thomas D. Wood and Company’s correspondent relationship with Security Mutual Life Insurance Company of New York. The borrower refinanced the former CMBS loan into permanent loan with a term of 10 years, based
on a 25-year amortization and an interest rate of 7.25%. The loan-to-value is 70%. The 72-unit multi-family complex was built in 1972, and is located at 3707 W. Idlewild Circle, Tampa, Florida.
Worrell also secured $780,000 in permanent financing for the Mims Warehouse on August 19, 2010, through Thomas D. Wood and Company’s relationship with a local credit union. The loan has a term of three years, based on a 25-year amortization and an interest rate of 6.5%. The loan-to-value is 70%. The 18,800 square-foot warehouse is home to major
tenant Fuel Tech, Inc. Mims Warehouse is located at 2680 Highway 1, Mims, Florida.
Thomas D. Wood and Company is an independently owned, leading commercial mortgage banking firm in the southeast.
Thomas D. Wood and Company has correspondent relationships with sixteen major life insurance companies, and is also a
member of the Strategic Alliance Mortgage (SAM), a unique company consisting of 20 members who are all individually owned, commercial real estate investment banking/mortgage banking firms located throughout the United States. Thomas D. Wood and Company’s servicing portfolio is now approaching one billion dollars. This servicing portfolio consists
of long-term mortgages on a variety of commercial properties located throughout the state of Florida. These properties
include: Retail, Industrial, Office, Senior Housing Communities, Self-storage, Apartments, Warehouses, Hotels and Mobile Home Parks. Thomas D. Wood and Company’s corporate office is located at 95 Merrick Way, Suite 360, Coral Gables, Florida 33134, with branch offices located at 1215 Louisiana Avenue, Suite 100, Winter Park, Florida 32789, 7349 Professional Parkway East, Sarasota, Florida 34240, and 475 NW 11th Street, Boca Raton, Florida 33432. The website may be accessed through www.tdwood.com.
For further information, please contact:
Doug Rozzell (407) 937-0470 [email protected]
John Worrell (407) 937-0470 [email protected]
Jessica Kinnee (407) 937-0470 [email protected]