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Parkview Financial has provided a $35-million loan to Two Roads Development and GPB Capital for the acquisition of 1.73 acres in downtown Tampa, FL.

Two Roads Set to Launch 37-Story Tower in Tampa with $35M Refinancing

Parkview Financial has provided a $35-million loan to Two Roads Development for the refinancing of 1.73 acres of land along the east bank of the Hillsborough River in downtown Tampa, FL.

The parcel is entitled for the development of Pendry Tampa, a Class A, 37-story, residential and hotel project consisting of 207 for-sale condominiums and 220 luxury hotel rooms plus supporting retail and amenity areas. The building area will total in excess of 1.4 million square feet and include an 11-story parking structure.

Parkview’s loan will finance the land and associated soft costs for the borrower to secure the building permits, reignite marketing and sales and provide a bridge to execution of the construction financing.

Groundbreaking is anticipated for this late year with completion scheduled in late 2024.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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