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RED Inks Refi on Camelback Office Building
RED Development inked a $69.3 million refinancing for The Offices at The Grove, a 185,536-square-foot Class AA office building in Phoenix. JLL’s Debt Advisory team led by Kevin MacKenzie, Jason Carlos and Frank Choumas represented RED Development in placing the five-year, fixed-rate loan with PGIM’s real estate investment group. The financing collateral consisted of the office building, a restaurant in the building, two retail spaces and an underground parking facility.
The Offices at The Grove is a four-story Class AA office building completed in Q4 2022, fully leased to a primarily investment-grade tenants, including JPMorgan Chase, Clayco, First Solar, JLL, PwC, Caterpillar and Aon.
The building serves as the office centerpiece of The Grove, a 750,000+ square foot luxury mixed-use development featuring The Global Ambassador boutique hotel.
The Offices at The Grove is located at 4300 East Camelback Road at the intersection of 44th St.,
- ◦Financing
