THOMAS D. WOOD & CO. ARRANGES $14.3M IN FINANCING FOR FLORIDA PROPERTIES
CORAL SPRINGS AND PALM BAY, FLA. — Thomas D. Wood & Co., a commercial mortgage banker based in Coral Springs, has secured approximately $14.3 million for two properties in Coral Springs and Palm Bay. Thomas D. Wood & Co. arranged approximately $10.8 million to refinance University Centre West III, a 83,936-square-foot mixed-use development at 2702-2788 University Drive in Coral Springs. The property features Class A office space set above ground-floor retail space. The leases for three of the major tenants, which together occupy 42 percent of the property, expire in the near term. Patrick Harrington of Thomas D. Wood arranged the loan through LoanCore Capital, a CMBS lender, at a fixed interest rate of 5.42 percent. Thomas D. Wood also arranged $3.5 million to refinance of Shoppes of Palm Bay, a 76,886-square-foot, Publix-anchored shopping center located at 1150 Malabar Road S.E. in Palm Bay. Thomas Wood Jr. of Thomas D. Wood arranged the 10-year loan with a 25-year amortization schedule and a fixed 4.45 percent interest rate through Woodmen of the World Life Insurance Society. Thomas D. Wood worked with Pinnacle Financial Group, a Strategic Alliance Mortgage LLC (SAM) member. Thomas D. Wood is also a SAM member.