Commercial mortgage firm notches $5.3M in deals

SARASOTA — The Sarasota office of Thomas D. Wood and Co., one of the largest independently owned commercial mortgage firms in Florida, recently closed $5.3 million in finance transactions, mostly on the Gulf Coast.

Officials with the Coral Gables-based firm say low interest rates, down to 4.5%, are a big factor in the run of successful closings. One deal, according to a release, was a $1.35 million loan for the Liner Buildings, a mixed-use retail, office and residential property in Fort Myers. Thomas D. Wood Senior Vice President Brad Cox helped secure financing for the vacant complex, the release states. The borrower needed a construction loan to finish out the shell space and prepare the units for sale.

Other recent financing deals completed by the Sarasota office of Thomas D. Wood include:
• A permanent fixed-rate loan for the Fairfield Commerce Center, a six-building industrial property in St. Petersburg;
• A refinanced bridge loan for Affordable Secure Self Storage, a 272-unit mini-storage center in Fort Myers;
• A permanent fixed-rate loan for $850,000 for the Parkway Center, a retail property in Fort Myers;
• A $1.2 million permanent fixed-rate loan for Indigo Palms Villas, a multifamily complex in West Palm Beach.

Thomas D. Wood and Co. was founded in 1974. It has branch offices in Fort Lauderdale, Orlando and Tallahassee, in addition to Sarasota and Tampa.