Foundation 8 LLC Secures $44.5 Million Loan For Office Renovation At 333 North Central Avenue
333 North Central Avenue
$44,500,000
$178/SF
Building Size
250,000 SF
Asset Type
Office
Closing
Sep 10, 2026
About this deal
AI
The property asset involved in this transaction is an office space located at 333 North Central Avenue in Phoenix, AZ, encompassing a total of 250,000 square feet within a 26-story tower.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $44,500,000
- Lender: Jeffrey Hecktman - Hilco Global
- Landlord: Foundation 8 LLC
- Broker: Sterling Realty Capital
The loan secured by Foundation 8 LLC is intended for the renovation and repositioning of the office segment, particularly in response to the lease termination by Freeport-McMoRan in May 2026. The redevelopment will focus on converting the existing space into a multi-tenant office property featuring new amenities and tenant improvements, with leasing being managed by Newmark.
Players
Charlotte Hall Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93