Onicx Development Lands $22M Refi for Tampa-Area MOB
Berkadia secured the financing for the 86,770-square foot property in Trinity, Fla.
Onicx Development has received $21.8 million in cash-out refinancing for Trinity Medical Arts Building, an 86,770-square foot property in the Tampa suburb of Trinity, Fla.
Working on behalf of the borrower, Berkadia secured the fixed rate, five-year loan originated by ServisFirst Bank at an 80 percent loan-to-value ratio.
Onicx developed the four-story building in 2012 at 9332 State Road 54, within the 55-acre Medical Center of Trinity campus. The Class A property features 23,000-square-foot floorplates and a parking ratio of 6 spaces per 1,000 square feet, according to CommercialEdge. The tenant roster includes a women’s diagnostic center, an outpatient surgery center, a dialysis center and a children’s learning academy, as well as physician’s offices.
Trinity Medical Arts Building is roughly 3 miles northeast of downtown Trinity and 31 miles northwest of downtown Tampa, where a 10-story, 498,000-square-foot hospital has been underway since June. The immediate area has various shopping and dining venues, including the Mitchell Ranch Plaza mall located on the western side of the medical campus.
Berkadia Director Bryan Brown arranged the financing on behalf of Onicx Development. In September, a Berkadia team secured a $72.9 million bridge loan for a 28-story office building in Orlando, Fla.