Joint venture borrows $6.75M to finance acquisition of Tampa landmark

The office building with a ground-floor restaurant was built on West Kennedy Boulevard in 1925

Miami /
Aug.August 26, 2018 02:00 PM

442 West Kennedy Boulevard in Tampa (Credit: NewsFunnel-com)

A joint venture borrowed $6.75 million to finance a 37,400-square-foot, mixed-use property west of downtown Tampa with office space and a restaurant.

Tricera Capital and Gainco Companies formed a joint venture that borrowed the money at a fixed interest rate for five years to finance their acquisition and future improvements to the property, a 93-year-old Tampa landmark at 442 West Kennedy Boulevard.

Originally built in 1925, the West Kennedy Boulevard property is near the University of Tampa, which has an enrollment of more than 7,000 students.

The Tricera-Gainco joint venture secured the financing for the building through JCR Capital, which invests on behalf of such clients as insurers, public pension funds, endowments and family offices.

The building has 24,700 square feet of office space and 12,700 square feet of retail space. A fine dining restaurant, Mise En Place, operates in ground-floor space.

Holliday Fenoglio Fowler, L.P. (HFF) helped the joint venture secure financing for 442 West Kennedy Boulevard. HFF senior director Scott Wadler represented the borrower together with HFF director and Tampa native Preston Reid. – Mike Seemuth


Related Articles

arrow_forward_ios
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
From left: Scott Sherman and Ben Mandell (Tricera Capital, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Tricera Capital co-founder Ben Mandell buys out partner Scott Sherman
Tricera Capital co-founder Ben Mandell buys out partner Scott Sherman
Donald Trump and Grant Cardone (Cardone Enterprises)
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Billionaire & former WeWork CEO Adam Neumann (Getty Images, Tricera Capital/Merrimac Ventures, Illustration by Kevin Cifuentes for The Real Deal)
Adam Neumann pays $17M for retail at Las Olas Riverwalk in Fort Lauderdale
Adam Neumann pays $17M for retail at Las Olas Riverwalk in Fort Lauderdale
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...