Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $101 million sale of and arranged $67.82 million in acquisition financing for a seven-building, Class A suburban office portfolio totaling 698,100 square feet located in the Tampa area.
HFF marketed the portfolio on behalf of the sellers, Osprey East, LLC and Osprey s.a., Ltd. The Dilweg Companies (“Dilweg”), based in Durham, North Carolina, purchased the properties. Additionally, HFF worked on behalf of Dilweg to place floating-rate financing with Benefit Street Partners Realty Trust.
The portfolio is 74 percent leased to a variety of quality tenants, with no single tenant occupying more than 11 percent of the rentable space. The properties in the portfolio are Tampa Oaks One at 12802 Tampa Oaks Boulevard; Lakeview at Hidden River at 8875 Hidden River Parkway; 9000 Town Center Parkway in the Lakewood Ranch submarket; WestLake Corporate Center I and II at 9119 and 9009 Corporate Lake Drive; Orion Center at 3001 North Rocky Pointe Drive East; and Palm Court at Hidden River at 8600 Hidden River Parkway.
The HFF investment sales team representing the seller was led by senior managing directors Hermen Rodriguez and Ryan Clutter, director Ike Ojala and associate directors Chris Lingerfelt and Tracey Goo.
HFF’s debt placement team was led by senior managing director Travis Anderson and director Brent Bowman.
“With this purchase, Dilweg is acquiring a high-quality office portfolio in the dynamic greater Tampa market,” Rodriguez said.
“Given the strong rent growth and solid fundamentals in the broader southeast, the region continues to be very favorable to investors,” added Clutter.
About Dilweg Companies
The Dilweg Companies (“Dilweg”) is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $1 billion in assets and more than 9.6 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 402-9100 or go to dilweg.com.
About Benefit Street Partners Realty Trust
Benefit Street Partners Realty Trust (“BSP”), an SEC-registered investment adviser, is a leading credit-focused alternative asset management firm with over $17 billion in assets under management. BSP manages assets across a broad range of complementary credit strategies including high yield, levered loans, private/opportunistic debt, liquid credit, structured credit and commercial real estate debt. BSP has over 140 professionals, including a 44-person team dedicated to the firm’s real estate platform. BSP is in partnership with Providence Equity Partners L.L.C., a leading global private equity firm with a combined $50 billion in assets under management.
About HFF
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
