Sarasota, FL – October 17, 2014 – The Sarasota Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $6,830,000 in commercial mortgage transactions for properties located in Florida and Georgia. Interest rates continue to stay as low as 4.0%, contributing to the increase in successful closings.
Company Senior Vice President Brad Cox, CCIM, secured financing for the Palm Terrace Professional Plaza in the amount of $2,050,000 through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company. The fully-amortizing loan has a term of 25 years, with interest rate resets at years five, 10, 15 and 20. The 28,423 square-foot office building is located in Fort Myers, Florida.
Cox secured financing for the Neff Rental Building in the amount of $775,000 through The Standard. The fully-amortizing full-recourse loan has a term of 20 years. The 7,920 square-foot mixed-use (showroom-office-warehouse) building is located in Tallahassee, Florida.
Cox obtained financing for Silver Springs Commons in the amount of $1,750,000 through Thomas D. Wood and Company’s correspondent relationship with Ohio National Life Insurance Company. The fully-amortizing recourse loan has a term of 15 years. The 14,698 square-foot retail plaza is home to major tenants Submway, Payless Shoe Source and Hair Cuttery, and is located in Ocala, Florida.
Cox secured financing for Oakwood Plaza in the amount of $680,000 through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company. The fully-amortizing full-recourse loan has a term of 20 years. The 15,200 square-foot retail building is located in Flowery Branch, Georgia.
The Sarasota office also secured financing for Sun City Inn, a hotel located in Sun City, Florida, in the amount of $1,575,000.
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.