ORLANDO, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,100,000 for Southpointe Center and Temple Village Plaza.
Doug Rozzell (top right photo), Company Principal, secured financing for Southpointe Center through Thomas D. Wood and Company’s correspondent relationship with Woodmen of the World Life Insurance Company in the amount of $2,500,000.
The borrower, an affiliate of Pineloch Management Corporation, refinanced Southpointe Center at a loan with a low, fixed rate of 5.5%.
The non-recourse, permanent loan has a term of 10 years, based on a 20-year amortization. The loan-to-value is 64%. The 37,250 square-foot office/industrial building was built in 1987, and is located at 345 and 379 W. Michigan St., Orlando, Florida.
Jeff Schnupp (middle left photo), Company Vice President, secured financing for Temple Village Plaza through Thomas D. Wood and Company’s relationship with a local bank in the amount of $1,100,000.
The fixed-rate loan has a term of five years, based on a 20-year amortization and an interest rate of 6.25%. The loan-to-value is 45%.
The 13,144 square-foot multi-tenant retail plaza was built in 1967, with an addition added in 1985, and is home to major tenant Pizza Hut. Temple Village Plaza is located at 2335 Temple Trail, Winter Park, Florida.
For further information, please contact:
Doug Rozzell, (407) 937-0470, drozzell@tdwood.com
Jeff Schnupp, (407) 937-0470, jschnupp@tdwood.com
Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com
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