Lender on 23-story apartment tower in downtown Tampa ‘excited’ for $70M deal

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The lender who provided a $70 million senior loan for a new development in downtown Tampa is “excited” about the deal.

California-based PCCP LLC said Monday that it is backing Atlanta-based Carter’s 23-story apartment tower on North Franklin Street. Carter closed on the 1-acre block in September for $6.4 million and began demolition of the existing structures on the site in mid-December.

“The Tampa market has exhibited strong population and job growth,” Kevin Chin, senior vice president with… …read more

Mixed-use Westchase development fetches $46 million

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An apartment-and-retail development in Westchase has a new owner.

Altis at Highland Park sold to a corporate entity tied to Utah-based Cottonwood Residential on Dec. 21, according to a Hillsborough County deed filed Dec. 29.

Cottonwood paid $46 million for the property, which includes 239 apartments and 5,000 square feet of retail space. Kahwa Coffee is among the building’s retail tenants.

The deal breaks down to $192,468 per apartment.

The seller was Boca Raton-based Altman Cos., which bought… …read more

What’s tops on my ‘look ahead’ list for 2016

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Many preferences: Transit urgency is ramping up, which is funny to say given it has been a slow burn around here for eons. A bad taste lingers from bitter defeats of transportation funding referendum in 2010 in Hillsborough and 2014 in Pinellas. But a Tampa Bay Times/10News WTSP poll this week shows increasing public support for transit upgrades, and lots of them, not just light rail. I’m watching closely to see if the Go Hillsborough public outreach campaign leads to a ballot measure. Tourism… …read more

Laser Locators CEO on creating a culture of inclusion, camaraderie

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Sean O’Donnell

Title, company: President & CEO, Laser Locators Grew up: Beverly, Massachusetts Passion: Gourmet cooking Favorite family recipe: His grandmother’s secret ravioli. “If you tell everyone else how to make it, they won’t come sit at the dinner table with you.” First paid job: At a retail clothing store in junior high Laser Locators revenue: Last year, $8.2 million; 2015 goal: $12 million. “We do revenues with 12 people that companies with 30 or 40 people do.” Education: Started… …read more