Thomas D. Wood and Co. Secures $14.25 Million for South Florida Centers

by Nate Hunter

Coral Springs and Palm Bay, Fla. – Both centers featured circumstances that presented challenges to the company in securing financing.

Coral Springs and Palm Bay, Fla. – Thomas D. Wood and Company has secured $12.5 million in financing for University Centre West III in Coral Springs and Shoppes of Palm Bay in Palm Bay. Vice President Patrick Harrington secured $10.75 million to refinance the 83,936-square-foot mixed-use development University Centre West III. The permanent fixed-rate loan was secured through CMBS lender LoanCore Capital, featuring a 10/25 structure at 5.4 percent interest and representing a 70 percent loan-to-value ratio. President Thomas Wood, Jr., secured $3.5 million to refinance Shoppes of Palm Bay. The 76,886-square-foot shopping contains major tenants Publix and Tire Kingdom. The lender was able to provide a permanent fixed-rate loan with a 10-year term, based on a 25-year amortization and an interest rate of 4.45 percent.

Scott Reid





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