Dealmaker: Cushman & Wakefield Team Arranges $40M Refi for Tampa Commerce Center

(Image courtesy of Cushman & Wakefield)

Cushman & Wakefield, New York, announced its Equity, Debt and Structured Finance group arranged a $39.5 million refinancing for Beaumont Commerce Center in Tampa, Fla.

The complex is owned by a joint venture between Arden Logistics Parks and JSB Capital Group.

Cushman & Wakefield’s Jason Hochman, Ron Granite and Gideon Gil represented the owners in the lending transaction with Grant Street Funding.

Hochman, Cushman & Wakefield Executive Director, noted demand is surging for light industrial and last-mile logistics. “We had a strong response from the lending market who appreciated the successes at the property and worked with our clients to pick an option providing stability to the property cash flows along with flexibility around ALP and JSB’s business plan,” he said.

The Beaumont Commerce Center is a portfolio of small-bay, multitenant industrial facilities totaling about 250,000 square feet.