Tuesday, January 15, 2013

HFF arranges $41.5 million in acquisition joint venture equity and financing for three-property Tampa, FL office portfolio

Part of Carillon Parkway office portfolio, Tampa, FL
MIAMI, FL – HFF announced today that it has arranged $41.5 million in joint venture equity and financing for a three-property, Class A office portfolio totaling 312,543 square feet within the Gateway submarket of Tampa, Florida.

                HFF worked exclusively on behalf of the borrower, Cardinal Point Management, LLC, to secure a $28 million, five-year first mortgage loan through Wells Fargo.  Halstatt Real Estate Partners provided $13.5 million in joint venture equity.

Chris Drew
The three properties are located at 740, 780 and 800 Carillon Parkway close to the Tampa International Airport and Interstate 275 along the eastern edge of Pinellas County.  Collectively, the properties are 94 percent leased to tenants including Allstate, Humana, SunTrust Bank and Lincoln National Life Insurance.

                The HFF team representing Cardinal Point Management, LLC was led by director Chris Drew, managing director Hermen Rodriguez, director Luis Castillo and senior real estate analysts Jorge Portela and Jose Carrazana.

Hermen Rodriguez
“This venture was arranged in approximately 70 days and demonstrates that both equity and debt is readily available in select markets throughout the Tampa MSA for highly qualified sponsors such as Cardinal Point Management,” said Drew.  “During the past 24 months, HFF has completed approximately $1 billion of office capitalizations throughout Florida.” 

Luis Castillo
Cardinal Point Management, LLC is a well-capitalized and highly experienced investment management firm with an institutional background.  The firm is focused on value-add residential and commercial real estate acquisitions for assets throughout West Florida.

Halstatt Real Estate Partners is a private equity fund created by the Sproul Family, a member of the Barron Collier Family based in Naples, Florida.  HREP is focused on investing in residential and commercial real estate in Florida.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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