Press Release

CBRE Arranges $33.84 Million Loan for Refinancing of Park One in Phoenix

2020 4월 23

Phoenix - CBRE Capital Markets Debt & Structured Finance has arranged a $33.84 million loan for the refinancing of Park One, a 217,433-square-foot Class A office property in the Camelback Corridor of Phoenix.

Dana Summers, Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell and Jim Korinek of CBRE secured the loan through Alliance Bank of Arizona on behalf of the borrower, Velocis.

“The borrower team was extremely professional and worked diligently and efficiently to close the loan,” said CBRE’s Francis. “In addition, the lender honored all of the loan terms which were quoted pre-pandemic. Due to everyone’s expertise and professionalism, the loan closed on time without any issues.”

Located at 2111, 2121 and 2141 E. Highland Avenue in Phoenix, Park One is a three-building Class A office property is comprised of two- and four-story buildings and a freestanding restaurant. It is 92 percent leased to a mix of high-quality tenants.

The property features remodeled common areas and amenity spaces, including lobbies, corridors, elevator cabs, on-site café, landscaping and outdoor seating areas. Park One is within walking distance of an abundance of restaurant options and specialty shopping destinations, including Biltmore Fashion Park.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.