Wednesday, November 18, 2015

HFF closes sale of and arranges joint venture equity and acquisition financing for The Slade in downtown Tampa, FL

The Slade Condominiums, 1190 East Washington Street, Downtown Tampa, FL

Matt Mitchell
TAMPA, FL – Nov. 18, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged joint venture equity and acquisition financing for The Slade, a 214-unit, eight-story bulk condominium transaction in downtown Tampa, Florida.

HFF’s Tampa-based multi-housing team, led by Matt Mitchell, marketed the offering on behalf of Crescent Heights®.  HFF’s capital markets team, led by Chris Drew, arranged a joint venture between Cardinal Point Management and Long Wharf Real Estate Partners, which purchased the asset for an undisclosed amount. 

Additionally, HFF’s capital markets team worked on behalf of the new owners to place fixed-rate acquisition financing with CapitalSource, a division of Pacific Western Bank.

Completed in 2009, The Slade features two eight-story residential towers that encompass one-, two- and three-bedroom floor plans averaging 935 square feet each.  The offering included 214 of the 294 total condominium units and 11,613 of the 13,193 square feet of ground floor retail space. 

Property amenities include landscaped courtyards, infinity swimming pool with spa, two-story fitness center with yoga room, club room, cyber café, 24-hour concierge service and an attached, six-story parking garage.

Chris Drew
  Situated at 1190 East Washington Street in downtown Tampa’s Channelside neighborhood, the property offers immediate access to Tampa’s central business district, the Amelie Arena, Ybor City and the proposed site of the University of South Florida’s new medical school campus.

“The investment market is excited about the growth of downtown Tampa, especially in Channelside.  As the neighborhood continues to build out and add amenities, The Slade is well positioned to serve the growing demand for residences, whether as rentals or as for-sale product,” commented Mitchell.

“We have seen a significant increase in demand from institutional capital to invest in downtown Tampa and Channelside.  

"We anticipate this demand will only increase further as additional projects are delivered and the Channelside/Downtown market continues to evolve into one of Florida’s most active live-work-play environments,” added Drew.

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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