MIAMI, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,900,000 for Quail Corners I and Duluth Retail Center.
Steve Wood (top right photo), Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital and Realty, secured financing for Quail Corners I through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company in the amount of $1,400,000.
The borrower was looking to secure a fixed-rate loan to pay off the existing loan that was maturing. The loan has a term of 10 years, based on a 25-year amortization and a fixed rate of 5.95%.
The loan-to-value is 58%. The 11,277 square-foot office building was built in 1999, and is home to major tenant City National Bank. Quail Corners I is located at 6518-6522 S. McCarran Boulevard, Reno, Nevada.
The borrower refinanced the building into a permanent loan with a rate reset after 10 years, based on a 25-year amortization and an interest rate of 6.45%. The loan-to-value is 58%.
Duluth Retail Center is located at 1950 Pleasant Hill Road, Duluth, Georgia.
For further information, please contact:
Steve Wood, (305) 447-7836, swood@tdwood.com
Patrick Madore, (561) 338-9799, pmadore@tdwood.com
Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com
No comments:
Post a Comment