Sarasota, FL – June 13, 2014 – The Sarasota Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $9,185,000 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.
Senior Vice President Brad Cox, CCIM, accepted the challenge in securing financing in the amount of $1,100,000 for the Affordable Secure Self Storage in Hudson, Florida. The borrower wanted to refinance a loan that he used to purchase the self-storage facility from a distressed seller in 2012, and he wanted to include as collateral the adjacent property, which he was under contract to purchase for expansion purposes. Cox arranged permanent financing for the borrower with a three-year fixed rate and a 25-year amortization, at a very favorable interest rate of 4.25%.
Cox secured financing for the Temple Terrace Business Center in Temple Terrace, Florida, in the amount of $1,200,000 through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company. For his refinance, the borrower needed to close on a specific day to satisfy the terms of his existing mortgage. Cox structured a loan with a fixed rate of 5.05%, based on a 15-year term and 20-year amortization.
Cox obtained financing for the Days Inn Hotel and Tiki Bar in Fort Myers, Florida, through Thomas D. Wood and Company’s correspondent relationship with The Standard, in the amount of $1,925,000. The permanent fixed-rate loan has a term of 15 years with a 15-year amortization.
Cox secured financing from The Standard for Plymouth and Regal Shopping Centers, a 70,000 square-foot retail property in Fort Myers, Florida, in the amount of $4,300,000. The permanent fixed-rate loan has a term of 15 years with a 15-year amortization.
Cox also secured financing from The Standard for Palm River Business Park, a 22,500 square-foot industrial/flex property in Tampa, Florida, in the amount of $660,000. The permanent fixed-rate loan has a term of 15 years with a 15-year amortization.
About Thomas D. Wood & Company
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 16 major life insurance companies, and is also a member of the Strategic Alliance Mortgage (SAM), a unique company consisting of 24 members who are all individually owned, commercial real estate investment banking/mortgage 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: 1916 E. Robinson Street, Orlando, FL 32803, 3665 Bee Ridge Road, Suite 210, Sarasota, Florida 34233, 8509 Benjamin Road, Suite E, Tampa, Florida 33634, 2500 N. Military Trail, Suite 200, Boca Raton, Florida 33431 and 2580 Care Drive, Suite 1, Tallahassee, Florida 32308. The website may be accessed through www.tdwood.com.