Thursday, March 7, 2019

HFF announces sale and $34 million financing of Class A office building in Fort Lauderdale

Trade Centre South, Cypress Creek Office Submarket,
 Fort Lauderdale, FL

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged the sale and $34.35 million financing of Trade Centre South, a 216,038-square-foot, Class A, mid-rise office building in a transit-oriented location within the Cypress Creek Office submarket in Fort Lauderdale, Florida.

Hermen Rodriguez
The HFF team represented the seller, a partnership between DRA Advisors LLC and Mainstreet Capital Partners. 

Additionally, HFF worked on behalf of the borrower, a joint venture between Cardinal Point Management and Halstatt Real Estate Partners, to secure the acquisition financing from New York Life Insurance Company. 

 Loan proceeds were used to acquire the property and provides additional capital for an upcoming building renovation.   

Trade Centre South comprises a six-story office building atop a four-story parking garage that provides ample parking for tenants and visitors. 

Ike Ojala
 The building features attractive curtain glass exterior walls and is 87.1 percent leased to tenants in a variety of industries, including law, technology, government, marketing and accounting. 

 Situated at 100 West Cypress Creek Road, Trade Centre South fronts Interstate 95, South Florida’s major north-south artery, which has a daily traffic count of more than 275,000. 

 The property has an integrated Cypress Creek Tri-Rail station, which provides access to Miami-Dade and Palm Beach Counties and makes the property a transit-oriented location for thousands of daily commuters. 

It is also located in the Cypress Creek Office submarket, which is known as a tech-oriented submarket and is proximate to a variety of dining, lodging and amenities.

Chris Drew
The HFF investment advisory team representing the seller included senior managing director Hermen Rodriguez and senior director Ike Ojala.

The HFF debt placement team representing the borrower included senior managing director Chris Drew, director Brian Gaswirth and associate Matthew McCormack.

“Cardinal Point and Halstatt continue to expand their footprint in South Florida, and this acquisition allows them to have a critical mass within the greater Ft. Lauderdale office submarket” Gaswirth said.  “The accretive debt was a testament to the strength of the sponsorship and asset.”

DRA Advisors LLC is an investment advisor specializing in real estate investment and management services for institutional and private investors. 

Brian Gaswirth
DRA has $10 billion in assets under management.  Since 1986, DRA's focus has been consistent: conservative, value-added real estate investments in the office, retail, multi-family and industrial sectors in the United States. 

DRA's acquisitions since inception include 1600 properties valued at over $29 billion.

  Visit for more information.

Mainstreet Capital Partners is a real estate investment and management firm specializing in office and industrial acquisitions.  Established in 1999 by Paul J. Kilgallon, Mainstreet Capital Partners seeks to align itself with investment partners by sourcing investment opportunities in the southeastern and southwestern United States. 

For more information, visit    

Matthew McCormack
Cardinal Point Management is a well-capitalized and highly-experienced investment management firm with an institutional background.  

Based in Tampa Bay, the firm is focused on value-add commercial and residential investment opportunities. 

Cardinal Point seeks to make investments in value-add opportunities where the firm’s property management, asset management, and brokerage platform is a key cornerstone of successful strategy execution. 

Sample investments include the Slade in Channelside, Riverside at Telecom Park, a 440,000 SF office portfolio in Carillon, and Coastal Tower in Fort Lauderdale. Learn more at

Paul J. Kilgallon
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $850 million in Florida-based real estate assets since 2011. 

 Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in commercial and residential real estate projects. 

Katie Sproul is Halstatt's CEO.

HREP partners with best-in-class local and regional sponsors to maximize the value of real assets.  

HREP invests alongside a cross-section of institutional limited partners with a history of continuity from fund to fund including charitable foundations, domestic and international family offices and corporate pension funds. 

Katie Sproul
New York Life Insurance Company (, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company.

With over $53.1 billion in assets under management as of September 30, 2018*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance.

New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.

Please visit New York Life Real Estate Investors’ website at for more information.


FL Lic. #SL3018820
HFF Senior Managing Director
(305) 448-1333

FL Lic. BK665573
HFF Senior Director
(305) 448-1333

FL Lic. #SL3092190
HFF Senior Managing Director
(305) 448-1333

HFF Digital Content/Public Relations Specialist
(713) 852-3420

New York Life Insurance Company
(212) 576-5301