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Aeneas Venture Partners 4 Acquires Industrial Warehouse In Phoenix For $17.2M From Thunderbird Legacy Development

Property Image
SOLD
$17,200,000

Arizona

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Industrial
Sold 01/29/2025
the dealdetailscomps
Property Image
SOLD

Aeneas Venture Partners 4 Acquires Industrial Warehouse In Phoenix For $17.2M From Thunderbird Legacy Development

39 East Jackson Street

See Similar Deals
Industrial
Sold 01/29/2025
the dealdetailscomps

Summary

ARIZONA
Asset Type:Industrial
Transaction Type:Sale

Aeneas Venture Partners 4 has acquired an industrial property located at 39 East Jackson Street in Phoenix, AZ. The sale price for the historic warehouse was $17,200,000. This transaction occurred through a foreclosure auction, where Aeneas Venture Partners 4 took over a stalled 25-story hotel and condo project originally planned by Thunderbird Legacy Development and OIC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $17,200,000
  • Buyer: Aeneas Venture Partners 4
  • Seller: Thunderbird Legacy Development
  • Sale Date: 01/29/2025
  • Market: Phoenix, AZ
  • Address: 39 East Jackson Street

The deal was facilitated by the entities involved, with Aeneas Venture Partners 4 taking ownership to revitalize the site after the failure of the previous development plans. Thunderbird Legacy Development was responsible for the original project that has now transitioned to this new ownership structure.

Details

SOLD
IMAGE: 01/29/2025 ADDRESS: 39 East Jackson Street MARKET: Phoenix, AZ ASSET TYPE: Industrial BUYER: Aeneas Venture Partners 4 SELLER: Thunderbird Legacy Development SALE PRICE: $17,200,000 NOTE: Aeneas Venture Partners 4 acquired a historic warehouse in Downtown Phoenix for $17.2M through a foreclosure auction, taking over a stalled 25-story hotel and condo project originally planned by Thunderbird Legacy Development and OIC.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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