Cushman & Wakefield announced today that it served as the exclusive advisor to an affiliate of IP Capital Partners arranging a $28.7 million senior mortgage loan for the acquisition of 501 East Kennedy Boulevard located in Tampa, Florida. The fixed-rate financing was provided by BankUnited.
The loan is comprised of an initial funding for the acquisition and a facility, which will be used to fund budgeted capital improvements to the property as well as future tenant improvement and leasing commission costs. A Cushman & Wakefield Equity, Debt and Structured Finance team led by Steve Kohn, Alex Hernandez and John Spreitzer served as exclusive advisor to IP Capital Partners.
501 East Kennedy Boulevard is a 19-story, 300,000 square foot, NAIOP and BOMA award winning office building located in the heart of Tampa’s Central Business District. The Property is currently 87% leased to 23 tenants including a large concentration of well-established law firms, banks, financial services firms and government agencies.