{"id":1004564349,"date":"2022-01-21T03:59:59","date_gmt":"2022-01-21T11:59:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004564349"},"modified":"2022-12-08T21:35:57","modified_gmt":"2022-12-09T05:35:57","slug":"trophy-tampa-tower-lands-175m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/","title":{"rendered":"Trophy Tampa Tower Secures $175M Refi"},"content":{"rendered":"
\"Bank<\/a>

Bank of America Plaza. Image courtesy of CIM Group<\/p><\/div>\n

The owners of the 42-story Bank of America Plaza mixed-use office tower in downtown Tampa, Fla., have refinanced the trophy building with a $175 million whole loan provided by a CIM Group-managed fund.<\/p>\n

Details on the transaction were not disclosed. The refinancing appears to replace a $134.3 million loan provided by Metropolitan Life Insurance Co. to an affiliate of Banyan Street Capital and funds managed by Oaktree Capital Management when they acquired the tower in December 2015<\/a>, according to CommercialEdge data. The 2015 loan was set to mature Dec. 18, 2020, but may have had extensions.<\/p>\n

A joint venture of Banyan Street Capital and Oaktree Capital Management purchased the Class A office tower located at 101 E. Kennedy Blvd. from MetLife Inc. for $194.4 million, CommercialEdge reported.<\/p>\n

\n

READ ALSO<\/strong>: How High Inflation Could Impact REITs<\/a><\/p>\n

\n

Built in 1986 and renovated in 2018, Bank of America Plaza spans two city blocks making it one of the largest office developments in the Southeast. The 795,944-square-foot tower also has 23,500 square feet of retail space and an adjacent 14-level, 1,260-space parking structure connected to the building by a covered, climate-controlled skybridge. The building has a newly renovated lobby, full-service fitness center, tenant business lounge and conference facility. In July 2020, the owners began preparing the LEED Gold-certified asset for post-pandemic leasing<\/a> by building out 17,000 square feet of speculative office space into new suites that would provide sanitary measures, more private offices, larger workstations and less open space.<\/p>\n

CommercialEdge reports the building currently has 52 leases with 78,066 square feet of space available. In July 2020, two tenants had recently signed for a total of 24,000 square feet, bringing the occupancy to 92 percent at that time. The building scored a major headquarters relocation lease in October 2018, when The Mosaic Co., a producer and marketer of concentrated phosphate and potash fertilizers, moved from Minneapolis to the Bank of America Place<\/a>.<\/p>\n

Banyan Street Capital owns two other Tampa office properties\u2014the Rivergate Tower, a 515,965-square-foot building acquired in 2015, and Tampa City Center, a 38-story, 757,425-square-foot tower also purchased with Oaktree.<\/p>\n

In addition to being a commercial real estate owner, operator and developer<\/a>, CIM Group is an active lender. Through its CIM Real Estate Debt Solutions business, CIM Group recently closed a $148 million loan for a 461,000-square-foot office campus in Tysons Corner, Va. CIM Group continues to pursue opportunities to provide senior and subordinate transitional bridge loans for commercial real estate projects with strong sponsors.<\/p>\n","protected":false},"excerpt":{"rendered":"

A CIM Group-managed fund provided the loan for the downtown property. <\/p>\n","protected":false},"author":1068,"featured_media":1004564365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21752,21742,21747,1612],"tags":[32943,33194,32924,35073,32944],"class_list":["post-1004564349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-mixed-use","category-latest","category-office","category-tampa","tag-banyan-street-capital","tag-cim-group","tag-metlife","tag-metropolitan-life-insurance-company","tag-oaktree-capital-management"],"acf":[],"yoast_head":"\nTrophy Tampa Tower Secures $175M Refi - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A Banyan Street Capital affiliate and funds managed by Oaktree Capital Management have refinanced Bank of America Plaza in Tampa, Fla. CIM Group provided the loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trophy Tampa Tower Secures $175M Refi\" \/>\n<meta property=\"og:description\" content=\"A Banyan Street Capital affiliate and funds managed by Oaktree Capital Management have refinanced Bank of America Plaza in Tampa, Fla. CIM Group provided the loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-21T11:59:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:35:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"607\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/\",\"name\":\"Trophy Tampa Tower Secures $175M Refi - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg\",\"datePublished\":\"2022-01-21T11:59:59+00:00\",\"dateModified\":\"2022-12-09T05:35:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"A Banyan Street Capital affiliate and funds managed by Oaktree Capital Management have refinanced Bank of America Plaza in Tampa, Fla. CIM Group provided the loan.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg\",\"width\":800,\"height\":607,\"caption\":\"Bank of America Plaza. Image courtesy of CIM Group\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trophy Tampa Tower Secures $175M Refi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Trophy Tampa Tower Secures $175M Refi - Commercial Property Executive","description":"A Banyan Street Capital affiliate and funds managed by Oaktree Capital Management have refinanced Bank of America Plaza in Tampa, Fla. CIM Group provided the loan.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/","og_locale":"en_US","og_type":"article","og_title":"Trophy Tampa Tower Secures $175M Refi","og_description":"A Banyan Street Capital affiliate and funds managed by Oaktree Capital Management have refinanced Bank of America Plaza in Tampa, Fla. CIM Group provided the loan.","og_url":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-01-21T11:59:59+00:00","article_modified_time":"2022-12-09T05:35:57+00:00","og_image":[{"width":800,"height":607,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/","url":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/","name":"Trophy Tampa Tower Secures $175M Refi - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg","datePublished":"2022-01-21T11:59:59+00:00","dateModified":"2022-12-09T05:35:57+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"description":"A Banyan Street Capital affiliate and funds managed by Oaktree Capital Management have refinanced Bank of America Plaza in Tampa, Fla. CIM Group provided the loan.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg","width":800,"height":607,"caption":"Bank of America Plaza. Image courtesy of CIM Group"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/trophy-tampa-tower-lands-175m-refi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Trophy Tampa Tower Secures $175M Refi"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Bank-of-America-Plaza-Tampa-featured.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004564349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004564349"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004564349\/revisions"}],"predecessor-version":[{"id":1004564444,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004564349\/revisions\/1004564444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004564365"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004564349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004564349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004564349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}