$9.5 Million financing for Galleria Mall

MIAMI - Financing for the amount of $9.5 Million has been secured by Thomas D. Wood and Company. The financing is for the Galleria Mall, in Downtown Miami.

Thomas D. Wood Jr., is the company president. He arranged financing through Thomas D. Wood and Company’s relationship with a local bank.
Their loan has a fixed interest rate of 6.75% and a five-year term, based on a 25-year amortization schedule. The loan-to-value is under 50%. The building being financed is three-levels. It is 164,918 sf of retail and offices.
Marshalls is a major tenant and is located at 251 East Flagler Street.

"NNN Commercial Real Estate in Florida"

http://nnncommercialrealestate.blogspot.com/
"Commercial Property Finance"

http://nnncorners.blogspot.com/