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| Wells Fargo Center, Tampa, FL |
SAN DIEGO, CA – HFF announced today that it has arranged
joint venture equity for Wells Fargo Center, a 22-story,
387,477-square-foot Class A office tower in Tampa, Florida.
HFF worked on behalf of the borrowers, Feldman Equities
and Tower Realty Partners, Inc., to secure joint venture equity from an
international investment management firm.
The $17.3 million in equity was a portion of the equity needed to
purchase the property.
Wells
Fargo Center is located at 100 South Ashley Drive close to the Tampa Convention
Center and the Crosstown Expressway in downtown Tampa.
The property is 77 percent leased to tenants
including Wells Fargo & Company, who is the largest anchor tenant and is
under a long-term lease, Phelps Dunbar and UBS.
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| Paul Stasaitis |
Wells Fargo Center also includes a nine-story, 505-stall parking
garage.
The
HFF team representing the borrowers was led by associate director Bryan
Clark and managing director Paul Stasaitis.
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| Bryan J. Clark |
In the last 25 years, Feldman Equities has developed or
acquired over 11 million square feet of office and retail property with an
aggregate value in excess of $2.5 billion.
Larry Feldman gained a national reputation as a
property turnaround specialist when he was the chairman and CEO of the
publicly-traded Tower Realty Trust, Inc (NYSE: TOW). Feldman Equities is well known for its hands-on approach to
turning around distressed assets.
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| Larry Feldman |
Tower Realty Partners is an Orlando-based commercial real
estate owner focusing on value-added opportunities throughout the state of
Florida. Tower was formed in 1987 by Cliff Stein and Reid Berman.
Since its inception, Tower has acquired over $1 billion of
office properties. Currently, Tower’s
assets consist of over four million square feet office property throughout
Florida.
Tower owns and manages approximately one million square feet
in the greater Tampa area, which includes the Palm Lake office building
in North Tampa and Fountain Square II in Tampa's Westshore market.
Contact:
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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