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Admiral Capital Refinances Two Office Properties
Admiral Capital Group secured two loans totaling $41.3 million for the refinance of The Madison, a Class A office property in Phoenix’s Camelback Corridor (pictured) and for the refinance of Balboa Executive Center, a Class A office property in San Diego’s Kearny Mesa submarket. The funding was received by Admiral’s core-plus investment platform, A2R.
Located at 5343 and 5353 N. 16th St., The Madison comprises two buildings totaling 177,312 square feet. The property was recently renovated and features a 40-person training room facility, a conferencing center, and an on-site deli.
Balboa Executive Center, located at 9444 Balboa Ave., comprises one, five-story building totaling 120,992 square feet. The property was recently renovated and features a gym and outdoor seating. The properties were a combined 88% leased at the time of the financing.
The refinancing represents a significant achievement for A2R since it closed in the midst of the COVID-19 global pandemic. JLL’s Brent Bowman secured the financing for A2R.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
