TD Wood Brookers $2.2 Million in New Loans

SARASOTA, FL, Dec. 8, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,200,000 for Conda Warehouses and the Residences at 2nd Street.

Brad Cox, CCIM, CPM (top right photo), Company Vice President, secured financing for Conda Warehouses through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $1,900,000. 

The borrower refinanced his property because his bank loan was maturing.

 The loan has a term of 10 years, based on a 25-year amortization and a fixed-rate of 6.5%.  The loan-to-value is 60%. 

The 41,200 square-foot warehouse complex comprises four buildings, three of which were built in 2003, and the fourth was built in 2006. 

Conda Warehouses is home to major tenants South Tampa Puppy Palace, Europa Motors and Conda Construction, and is located at 5201 S. Lois Avenue, Tampa, Florida.

Cox also secured financing for the Residences at Second Street, a 16-unit apartment property, in the amount of $300,000.

 The borrower purchased a vacant apartment building from a bank, and the mortgage was financed through a private money lender.  The loan has a term of 18 months, based on a 30-year amortization. 

The loan-to-cost is 80%.  The 16-unit apartment property was built in 1986, and is located in Fort Myers, Florida.

For further information, please contact:

Brad Cox, CCIM, CPM,  (941) 552-9731, bcox@tdwood.com

Jessica Kinnee, (407) 937-0470,  jkinnee@tdwood.com