$3.62M Credit Union Loan on a 1926 Tampa Loft Office Building

The sale behind this loan repriced in public. The 1926 brick office building at 2011 West Cleveland Street was listed at $5,299,000, reduced to $4,950,000, and closed April 29, 2026 at $4,525,000, a price confirmed in both the closed listing and county records. Achieva Credit Union recorded a $3,620,000 acquisition mortgage on May 5, on a five year term due April 2031, for buyer Gratia Arete Holdings LLC, a Florida entity in the 2026 filing series.

The building is a two story loft style office conversion marketed as Hyde Park Corporate Office, at the edge of the Courier City area that leasing materials brand as northwest Hyde Park: 9,966 square feet per county records across five office units, with fenced parking and residential office zoning. A personal injury law firm, Larson Johnson, P.L., has operated at the address for years per legal directories. Marketing describes substantial renovation and upgraded finishes; the sources conflict on when that work occurred, so no renovation year is published here. No historic designation for the parcel could be confirmed, and none is asserted.

The debt history is modest and local, as befits the building: Gulfshore Bank mortgages and modifications from 2009 through 2012, Hancock Bank in 2012 and 2017 at balances up to $1,200,000, and a small First Union mortgage in 2001. The new $3,620,000 loan roughly triples the largest debt previously recorded, tracking the building's revaluation from small professional office to boutique creative space.

Achieva Credit Union, headquartered in Dunedin and founded in 1937 as a Pinellas County teachers credit union, publishes a business lending program spanning owner occupied and investment commercial real estate, construction, and SBA lending across a fifteen county Gulf Coast footprint that includes Hillsborough. This is its first closing tracked on LoanList, and at 25th of 25 it is the smallest tracked Tampa closing, sharing the bottom band with $3,704,348 from Valley National Bank.

That smallness is the point. The tracked Tampa record runs from an $8,910,000 shopping center loan down to this, and the bottom of the market is where credit unions live: five year terms, local underwriting, buildings with law firms in them. For buyers of small character office properties, the recorded arc here, list high, reprice, close, finance at 80 percent of the reduced reality, is the honest shape of that market in 2026.