Dockerty Romer & Co. Arranges $56M in Tampa

Dockerty Romer & Co., Delray Beach, Fla., arranged $55.5 million for Highland Oaks, five Class A office buildings in Tampa, Fla.

Dockerty Romer Principal Craig Romer said a global real estate investment manager purchased the property. He arranged the financing through J.P. Morgan, New York.

“The loan structure positions the borrower to execute on its business plan well into the future,” Romer said. The five suburban buildings total 576,000 square feet in the 88-acre master-planned Highland Oaks business park.

“Highland Oaks is currently 96 percent leased to a variety of tenants, including several Fortune 500 companies, as well as regional users,” Romer said. “The Tampa market continues to improve, and Highland Oaks is positioned in the Interstate 75 corridor, where there is high demand for office space.”

In Ft. Lauderdale, Fla., Dockerty Romer Director Joe Hepp arranged $1.8 million for Commerce Center @ Fort Lauderdale Park of Commerce, a 62,000-square-foot flex/office-industrial property. Americo Financial Life & Annuity Co. provided the 10-year fixed-rate financing to borrower Meridian Realty Property Warehouses Ltd.

“This property, developed in 1986 and 1987, is 75 percent leased and represents a perfect complement to the borrower’s current real estate portfolio, with excellent value-add opportunities,” Hepp said. “The borrower’s experience in operating these types of properties allowed the lender to get comfortable with the current vacancy.”