Miami, FLAug. 24, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,200,000 for Washington Place Shopping Center and Cypress Creek Shopping Center.
Steve Wood, (top right photo) Company Chief Operating Officer, along with Mike Daspin of United Financial, secured $1,200,000 in financing for Cypress Creek Shopping Center on August 2, 2010, through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company.
The fixed-rate loan has a term of five years, with rate resets every five years, based on a 25-year amortization and an interest rate of 6.50%. The loan-to-value is 50%. The 14,270 square-foot retail center was built in 1981, and is located at 5661-5697 Vineland Road, Orlando, Florida.
The full-recourse loan is fully-amortizing with a loan term of 21 years and an interest rate of 6.875% with interest rate reviews.
The loan-to-value is 64%. The 42,093 square-foot retail center is home to major tenants Goodwill Industries and Fastenal Corporation, and was built in 2002-2003. Washington Place Shopping Center is located at 4070-4074 Washington Road, Martinez, Georgia.
For further information, please contact:
Steve Wood (305) 447-7836 swood@tdwood.com
Brad Cox, CCIM, CPM (941) 552-9731 bcox@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com
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