In Brevard County, Wood's Miami office found 6% mortgages for two self-storage companies--Aurora Road Mini Storage of Melbourne and Viera Self Storage, a 119,750-sf property in nearby Rockledge. Summit provided a $4-million loan to Viera Self Storage and a $2.2-million loan to Aurora. Both are 20-year, fixed-rate mortgages amortized for 20 years. Wood president Tom Wood arranged the financing.
In Oldsmar, near Tampa, Wood provided a $2-million mortgage for Vollmer Properties II, a five-building industrial property. "This lower leverage deal carries a fixed-rate for the first five years below 5%," Whitney Dwyer, Wood's marketing director, tells GlobeSt.com. The 20-year mortgage is amortized over 30 years. Wood vice president Rod Anderson arranged the financing.
Thomas D. Wood and Co., based in Coral Gables, has correspondent relationships with 12 national insurance companies and other financing sources on Wall Street. The company's servicing portfolio is approaching $1 billion, Tom Wood says.
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