August 4, 2017 Comments Off on $93M Deal for 628K-SF MXU in Phoenix Views: 666 Arizona, National News, Southwest

$93M Deal for 628K-SF MXU in Phoenix

HFF completed the $93-million sale and financing for High Street, a 628,000-square-foot, high-profile mixed-use project in Phoenix. The project contains 99 multi-housing units, 174,705 square feet of retail, dining and entertainment options and 330,369 square feet of office space.

The seller was City North Associates, LLC, a JV between a private investment fund managed by Wayzata Investment Partners LLC and ScanlanKemperBard Companies. The buyer was Harbert Management Corporation, which now holds the property in a JV with ScanlanKemperBard Companies.

HFF’s Ryan Gallagher, CJ Osbrink, Ryan Fitzpatrick and Clark Cashion marketed the property on behalf of the seller, and procured the buyer. HFF’s Jeremy Womack and Tom Wilson arranged the acquisition loan through TPG RE Finance Trust.

Built in 2008 and 83.7% occupied, High Street comprises nearly 25 acres at 5100-5450 East High St., along Loop 101 in northeast Phoenix.

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