Warner Crossing Business Park

Transaction description

Seth Ludwick of PSRS arranged the $20.1 million acquisition financing of a business park in Tempe, Arizona. The subject property is a 202,507-square-foot flex business park in the burgeoning high-tech manufacturing corridor of the Phoenix MSA. Constructed in 1997, the business park is 10 minutes from Sky Harbor Airport and within three miles of the Arizona State University campus. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan with a seven-year term, 30-year amortization, and one year of interest only. The borrower is a SoCal-based investment company that acquired this property to grow its Phoenix portfolio.