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Boca firm arranges $18.4M loan to buy Tampa office building
Meridian Capital Group arranged the four-year loan with interest-only payments for the buyer of a single-tenant building
Boca Raton-based Meridian Capital Group arranged an $18.4 million loan to finance the acquisition of a single-tenant office building in Tampa.
The loan has a floating interest rate 520 basis points above the 30-day LIBOR rate and interest-only payments throughout the four-year term.
Merdian vice president Aryeh Meiteles and managing director Noam Kaminetzky at the firm’s Boca Raton office negotiated the loan from a bridge lender on behalf of the buyer of the office building, TriOut Advisory Group.
The three-story, 186,309-square-foot office building is fully occupied by HealthPlan Services, Inc., which is owned by publicly held Wipro Limited.
Built in 1984, the office building at 6700 Lakeview Center Drive in Tampa recently underwent $3.3 million of renovations. It serves as the corporate headquarters of HealthPlan Services.
The building’s over-sized lot has entitlements in place to construct another 191,000 square feet of office space. – Mike Seemuth