CBRE Secures $32.5M Refinancing for Westshore Center in Tampa

CBRE Capital Markets’ Debt & Structured Finance group secured a $32.5 million loan for the refinancing of Westshore Center, a nine-story, 219,992-sq.-ft. office building in Tampa.

CBRE Senior Vice President Amy Julian and First Vice President Andrew Chilgren represented the sponsor, a joint-venture between C-III Capital Partners and America’s Capital Partners. BMO originated the loan.

Westshore Center is 85% leased to a diverse roster of 25 tenants with 4.8 years of weighted average lease term. Leasing activity has been robust with over 150,000 square feet of post-COVID commitments. This positive momentum affords Westshore Center strong near-term contractual income with upside from the lease-up of the remaining 29,631 square feet of vacant space.

Westshore Center’s location offers superior transportation dynamics with convenient access to Tampa International Airport and excellent accessibility to nearby amenities. The property is centrally located between major retail destinations such as International Plaza, Westshore Plaza, MetWest International and Midtown Tampa, affording tenants with proximate access to 250 restaurants, 300 shops, and 700 hotel rooms.