Townline Secures Financing, Acquires 324K-SF 2600 Tower

Townline Ventures obtained $25.5 million in non-recourse, interest-only bridge financing to acquire 2600 Tower, a Class A building in Midtown Phoenix. The 20-story, 323,607-square-foot office building at 2600 N. Central delivered in 1982, and includes an adjacent parking garage.

George Smith’s Malcolm Davies, Evan Kinne, Zachary Streit, Ed Steffelin, Alexander Rossinsky, Rachel Lewis, Aiden Moran and Max Shedlosky sourced the financing on behalf of Townline. The buyer, headquartered in Vancouver, B.C., acquired the building from Adler Realty Investments Inc. Mindy Korth and Luke Denmon with Colliers International, as well as JLL’s John Bonnell and Brett Abramson, represented the seller in the $30.7 million transaction.

The owner is planning a significant capital investment in its new property, with plans to renovate the lobby, common areas and landscape. Other additions will include a fitness facility and co-working space.

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