Sarasota, FL – July 15, 2014 – The Sarasota Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $13,235,000 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 Brad Cox, CCIM, obtained financing for two multi-family properties in Fort Walton Beach, Florida, through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company. The total loan amount for both properties is $4,050,000. The borrower wanted to refinance his current loans, and needed to close on a specific day to satisfy the terms of the existing first mortgages. Both permanent fixed-rate loans are full-recourse with a term of 15 years and a 25-year amortization.
Cox also secured financing from Symetra for Temple Terrace Business Center, a retail and office property in Temple Terrace, Florida, in the amount of $1,200,000. Cox secured a permanent fixed-rate loan with a term of 15 years and a 20-year amortization.
Additional commercial mortgage transactions include:
- Financing for Palm River Business Park, a 22,500 square-foot industrial property in Tampa, Florida, in the amount of $660,000
- Financing for Affordable Secure Self-Storage and Kings Ransom, a mini-storage facility in Hudson, Florida, in the amount of $1,100,000
- Financing for Days Inn and Tiki Bar in Fort Myers, Florida, in the amount of $1,925,000
- Financing for Plymouth and Regal Shopping centers in Fort Myers, Florida, in the amount of $4,300,000
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.