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$86M Financing for Arizona Office, Industrial Portfolio
Bethesda, MD-based Walker & Dunlop, Inc. structured three loans totaling $85.95 million for a four-property portfolio consisting of two Class A office buildings and two industrial warehouses in Phoenix, Tempe, and Scottsdale, AZ. Jim Pierson and Keaton Merrell led the team in arranging the debt for Globe Corporation.
The loan for one property, 101 Corporate Center, served as acquisition financing, and the remaining two were refinances. Debt for the two industrial warehouses, 8990 South Kyrene Rd. and Riverside Commerce Park, was consolidated into a single loan structure. Each of the three long-term, fixed-rate loans were closed at favorable rates with three separate life insurance companies.
The portfolio comprises a total of 709,033 square feet of rentable space. Each property is well-located within their respective markets, near major thoroughfares and featuring amenities such as retail and restaurants.
Properties included:
– Scottsdale Spectrum, Scottsdale: $60 million
– 8990 South Kyrene Rd., Tempe: $10 million
– Riverside Commerce Park, Phoenix: $8.45 million
– 101 Corporate Center, Phoenix: $7.5 million
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing