Highwoods Properties And Bromley Companies Secure $55.7 Million Loan For Midtown East Office Tower In Tampa
3600 Midtown Drive
$55,700,000
$388/SF
Building Size
143,354 SF
Asset Type
Office
Closing
Jul 29, 2026
About this deal
AI
The property asset involved is an 18-story office tower located at 3600 Midtown Drive in Tampa, FL, with a total square footage of 143,354. The tower is owned by a joint venture between Highwoods Properties and Bromley Companies. The total loan amount secured for this property is $55,700,000 from Valley Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $55,700,000
- Address: 3600 Midtown Drive
- Market: Tampa, FL
- Asset Size: 143,354 SF
- Lender: Valley Bank
- Landlords: Ted Klinck - Highwoods Properties; Nicholas Haines - Bromley Companies
- Brokers: Evan Pariser, Lee Weaver, Matthew Casey & Ed Coco - JLL
The deal was facilitated by JLL Capital Markets, which arranged the loan from Valley Bank. The property achieved 100% leased occupancy less than one year after its completion in 2025, with tenants including Tampa Electric Company, which occupies 11 floors for its corporate headquarters.
On the Map
$55,700,000
$388/SF
Office
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Players
Tampa Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93