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| 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.
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| 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.
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| 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.”
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| 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.
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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