$87m Florida office deal inked.

CBRE Capital Markets has arranged the sale and financing in the combined amount of $87,000,000 of Fifth Third Center, a premier office building totaling 272,714 square feet located in Tampa, Florida.

CB Richard Ellis represented the seller, Calsters and CBRE Investors, Inc. in their $52,000,000 disposition of the property to Terrace Tower. Members of the team from CB Richard Ellis include Christian R. Lee, Executive Vice President, of CB Richard Ellis' Institutional Group, Charles J. Foschini, Senior Director, of CBRE I Melody's South Florida Office, Anne-Marie Ayers, Vice President, of CB Richard Ellis' Office Brokerage Group, Mark Shellabarger, First Vice President, of CB Richard Ellis' Private Client Group, and Ginger Gelsheimer, Associate, of CB Richard Ellis' Private Client Group.

Acquisition financing in the amount of $35,000,000 was arranged in association with John Petersen of CBRE I Melody's Portland office on behalf of Terrace Tower. A life company provided the loan.

Fifth Third Center is a landmark 19-story office tower located in the Downtown Tampa submarket.

It is approximately 95% leased to 54 tenants. The property's diversified rent roll is characterized by a longterm tenancy component made up of well-established national and regional corporate tenants.