MIAMI—Netpark, a 1 million-square-foot office center in Tampa, is making post-recession history, of sorts, by scoring a $47 million non-recourse financing from a CMBS lender. It’s the largest new post-recession loan for a property with Tenant in Common (TIC) ownership in the books.

Bluett & Associates arranged the loan and will also handle asset and property management, leasing and construction management for Netpark. According to Bluett’s research, loans on TIC-owned properties account for much of the wave of $350 billion in commercial mortgage backed securities (CMBS) debt incurred before 2008 and maturing now through 2017.

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