Sunday, September 25, 2016

HFF arranges $29.5 million financing for Tampa, FL mixed-use office and retail property


Rendering of Planned TriPointe Plaza Office and Retail, 4488 Boy Scout Boulevard
Westshore District, Tampa, FL

Chris Drew
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $29.5 million in financing for TriPointe Plaza, a 71,721-square-foot, Class A office and retail mixed-use property in Tampa, Florida.

HFF worked on behalf of the borrower, Cardinal Point Management to secure the five-year, fixed-rate loan through a national life insurance company.  

Initial loan proceeds were used to acquire the property with the future proceeds going to fund the construction and interior build-out of a rooftop restaurant/lounge area. 

TriPointe Plaza is located at 4488 Boy Scout Boulevard in the Westshore District of Tampa, just south of International Plaza Mall and Tampa International Airport.  

This location has frontage and visibility along Boy Scout Boulevard, which boasts a traffic count of more than 50,000 vehicles per day. 

Completed in 2008, the property consists of a four-story Class A office building with a 374-space structured parking garage plus 15,005 square feet of in-line retail space on the ground floor and a freestanding 10,008-square-foot Eddie V’s Prime Seafood & Steaks restaurant constructed in 2013.

 The 90-percent-leased office component is anchored by a drive-through Synovus Bank branch, BNY Mellon, TD Ameritrade and Sharp Electronics.

  Additionally, the borrower has plans to construct a 10,500-square-foot rooftop restaurant/bar space on the top level of the parking garage that will boast panoramic views of Tampa Bay, Westshore and Downtown Tampa. 

Upon acquisition, Cardinal Point Management will begin a leasing campaign to identify a restaurant/lounge concept for this space.  

Westshore Business District, Tampa, FL
The HFF debt placement team representing the borrower was led by managing director Chris Drew and associate director Brian Gaswirth.

HFF’s debt placement group recorded $18.031 billion in 604 closed transactions through the first half of 2016, an increase of 2.1 percent from first half 2015.

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

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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