Phoenix Business Park - Highland Realty Capital Deal

Phoenix Business Park

Perm Loan

265,000 SF Flex Business Park

Phoenix, AZ

Highland secured a $23.0mm fixed rate permanent loan for the acquisition of a 265,000 sf flex business park in Phoenix, Arizona. The well-located, institutional quality property was 100% leased at the time of sale to a blue-chip tenant roster. The property was built over two phases in 2002 and 2005 and consists of four separate multi-tenant buildings. They range in size from 50,000 to 80,0000 sf. The 10-year, full term IO,  sub 45% LTV loan was funded by a regional bank at a very competitive 135 spread over the 10 year Treasury.

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