HFF Arranges $13.4 Million Financing For 2 Office Buildings In South Orlando

Mar 26, 2015 No Comments by

HFF has arranged $13.4 million in acquisition financing for Lakeshore Center and Sand Lake Southwest, two office buildings totaling 175,352 square feet in south Orlando.

HFF worked on behalf of the borrower, Cardinal Point Management and Halstatt Real Estate Partners, to secure the three-year, floating-rate senior loan through NXT Capital.

Lakeshore Center is an eight-story, 133,075-square-foot, Class A office building that was renovated in 2012. Located at 5900 Lake Ellenor Drive, the property is situated on the northern edge of Lake Ellenor and is six miles southwest of downtown Orlando. CBRE brokered the sale of the office property.

Sand Lake Southwest is located at 7208 West Sand Lake Road just off Interstate 4, 2.4 miles from the Orange County Convention Center and less than 10 miles southwest of downtown Orlando. The three-story, 42,277-square-foot building was completed in 1986.

The HFF debt and equity placement team representing the borrower was led by director Chris Drew, associate director Jose Carrazana and real estate analyst Cecily Nazario.

 

“The acquisition of Lakeshore Center and Sand Lake Southwest gives Cardinal Point Management a meaningful presence in the Orlando office market while simultaneously adhering to the sponsor’s core investment philosophy, which involves buying strategically-located, high-quality assets with significant value-add potential,” Drew said.

Cardinal Point Management is a well-capitalized and highly-experienced investment management firm with an institutional background. Based in Tampa Bay, the firm is focused on value-add commercial and residential investment and property management throughout the state of Florida. Cardinal Point seeks enhanced risk-adjusted returns by identifying dislocations in the capital markets and opportunistic situations in commercial and residential real estate. Cardinal Point subsequently seeks to make investments in these “value-add” opportunities where the firm’s property management platform is a key cornerstone of successful strategy execution.

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Industry News, NA, Office
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