Southwest Value Partners (SVP) acquired seven top-flight office properties in Phoenix, Scottsdale, Tempe and Chandler. City Office REIT was the seller. The deal amounted to over 1.5 million square feet of space. Occupancy of the seven properties averages out at 80%.

The Phoenix Business Journal reports that before the sale, Southwest Value Partners owned one Phoenix property: the 450,000-square-foot Arroyo office complex in Tempe.

The properties range in age. SVP is looking to renovate some with amenities such as revamped fitness centers, on-site dining, cafes and new conference rooms and training centers.

City Office REIT spent a combined $445.1 million acquiring the properties, which were acquired between 2016 and 2021.

The seven properties are The Quad (photo), Block 23, 5090 N. 40th St., The Square, San Tan Corporate Center, Papago Tech and Pima Center.

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