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

TRD 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
Scott Wadler

Movers & Shakers: Scott Wadler joins Berkadia as managing director & more

2751 South Dixie Highway, Scott Sherman and Ben Mandell

Tricera reveals plans for redevelopment of Palm Beach Post building

From left: Jon Paul Perez, Alex Karakhanian, Tony Arellano and Devlin Marinoff over the site (Credit: Google Maps)

Related Group, Alex Karakhanian and partners drop $32M on Wynwood site

Alexandra Lalos and Max Comess

Hodges Ward Elliott to open Miami office with former HFF brokers

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

arrow_forward_ios