HFF Miami secures $31M in financing for St. Petersburg office complex

The Miami office of Holliday Fenoglio Fowler has secured $30.75 million in financing for the One Progress Plaza Class A office building in St. Petersburg. HFF, which was working on behalf of Kucera Properties, placed a 10-year, fixed-rate loan with American National Insurance Company. The property, which is located at 200 Central Avenue in St. Petersburg, is 83 percent leased. “This transaction is emblematic of how capital sources today are viewing overall market conditions as opposed to, say, 12 months ago,” said Paul Stasaitis, senior managing director at HFF Miami, who was joined on the deal by Chris Drew, director, and Kim Flores, associate director. — Alexander Britell