Berkadia Arranges $21.75 Million Cash-out Refi for Class A Medical Office Building Near Tampa

January 13, 2021

Berkadia Arranges $21.75 Million Cash-out Refi for Class A Medical Office Building Near Tampa

January 13, 2021
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Trinity, Fla. (Jan. 13, 2021) – Berkadia announces it has secured $21.75 million in cash-out refinancing for Trinity Medical Arts Building, a four-story, 86,770-square foot medical office building in the Tampa suburb of Trinity, Florida. Director Bryan Brown of Berkadia’s Tampa office arranged the loan on behalf of Onicx Development, led by Dhvanit Patel, CEO and Arjun Choudhary, Vice President. Based in Tampa, Onicx Development originally developed and currently manages the property.

ServisFirst Bank originated the fixed rate, five-year loan at a competitive interest rate and an 80% LTV.

“The property is an on-campus, Class-A medical office building located along the booming State Road 54 corridor,” said Brown. “ServisFirst recognized the asset quality, stability of the medical office sector, and strength of an experienced Sponsor in a seamless transaction.”

Built in 2012, Trinity Medical Arts Building is located at 9332 State Road 54. Located within the Medical Center of Trinity campus, the building is located just east of the hospital’s main entrance. Office tenants include a women’s diagnostic center, an outpatient surgery center, dialysis center, physician’s offices, and a children’s learning academy.