TAMPA, FL-StanCorp Mortgage Investors of Hillsboro, OR is funding two local retail projects in 15-year loans totaling $2.47 million. The Oregon lender is providing a $1.58-million loan for a 3,500-sf service station and convenience store and a $900,000 loan for an Arby's restaurant.
Both loans carry a 5.87% permanent, fixed interest rate and are amortized over 15 years. The 2,410-sf Arby's property was built in 1996 and is located in suburban Lutz. The Hess location includes a mini-mart with a Blimpie's fast-food restaurant.
Rod Anderson, vice president of Thomas D. Wood and Co.'s Tampa office, arranged both loans. The Coral Gables-based Wood also has a branch office in Winter Park.
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