First National Bank and Trust of Fort Pierce is funding the project. Terms of the construction loan were not disclosed. William Schuss, vice president of Coral Gables-based Thomas D. Wood and Co. and Mike Yavinsky Walker & Dunlop of Maryland arranged the financing. The Preserve at the Savannah's is part of a multiple phase housing complex comprised of condominium and single-family homes.
Schuss says Thomas D. Wood and Co., an independently owned mortgage banker, has correspondent relationships with 12 major life insurance companies and Wall Street financial sources. Wood's servicing portfolio is about $1 billion, consisting of long-term mortgages on a mix of commercial properties throughout Florida.
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