Franklin Street has closed a $3.2 million refinance loan for Citrus Park Surgery Center located in Tampa, Florida. Ben Miller and Casey Siggins of Franklin Street’s Capital Advisors division secured the loan on behalf of the owner, Dr. Robert Nucci. The 24-month bridge loan has a current rate of 12 percent, with an 8% current rate and 4% accruing. These payments will be interest-only for the term of the loan.
“With many obstacles to overcome, the borrower gave this deal a 2 percent chance of getting completed,” said Miller, director of loan originations for Franklin Street’s Tampa office. “We overcame those obstacles and positioned Dr. Nucci for future success.”
The property is an outpatient surgery center located at 6326 Gunn Highway in Tampa. The 14,000-square-foot foot facility is situated less than a mile from State Road 589 and 10 minutes from downtown Tampa.
About Franklin Street
Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Real Estate, Capital, Insurance, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.
