Oaktree Capital Management Acquires Office In Tampa For $110M

The Tampa City Center, an office tower located at 201 N. Franklin St. in downtown Tampa, was sold for $110 million. The 757,425-square-foot Class A office building was acquired by Oaktree Capital Management in a transaction brokered by Cushman & Wakefield. The seller, Alliance Partners HSP, completed the deal with the representation of Michael Lerner, Mike Davis, and Rick Brugge from Cushman & Wakefield.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $110,000,000.00
• Market: Tampa
• Seller's Reps: Michael Lerner, Mike Davis, Rick Brugge
• Buyer: Oaktree Capital Management
• Seller: Alliance Partners HSP
• Address: 201 N Franklin St, Tampa, FL, 33602

The partnership between affiliates of Banyan Street Capital and funds managed by Oaktree Capital Management facilitated the acquisition of the Tampa City Center. Noteworthy tenants at the property include Ernst & Young, Deloitte, Masonite, Morgan & Morgan, FieldCore, CDW, PNC Bank, and The University Club. Additionally, Cushman & Wakefield’s Equity, Debt & Structured Finance Group, comprising Jason Hochman, Chris Lentz, Michael Ryan, and Brian Linnihan, helped the buyer secure an $84 million acquisition loan from HSBC Bank to fund capital improvements and tenant improvement costs for the building.