TAMPA, FL—Independence Realty has secured a $16.05-million, 10-year, fixed rate, non-recourse loan for its flex portfolio here.
The financing arranged by Commercial Mortgage Capital of Livingston, NJ, has a 30-year amortization. The financing deal was announced by Mark Scott, founder and principal of Commercial Mortgage Capital. Independence Realty's portfolio consists of Brandywine Business Center, Corporex Plaza and President's Plaza.
The three-building, 95,761-square-foot Corporex Plaza is situated on 6.55 acres and is fully occupied by tenants that include Inspectorate, Honeywell International, Ecolab GCS and Rauland-Borg. Brandywine Business Center consists of two single-story buildings totaling 75,378 square feet that are situated on 5.54 acres. The property's tenant roster includes Joffrey's Coffee, Pharmscript and Medstar Medical.
The 42,655-square-foot President's Plaza consists of two single-story, Class-B multi-tenant office flex buildings on 3.96 acres, with 11 tenants including Apria Healthcare and VAXA International.
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