Presson Corporation Acquires Phoenix's Arizona Center For $27 Million
455 North 3rd Street Phoenix, Arizona 85004, Usa
$27,000,000
Building Size
—
Asset Type
Retail
Closing
Jul 20, 2023
About this deal
AI
The Arizona Center, a retail property located at 455 North 3rd Street in Phoenix, AZ, has been sold for $27 million. The buyer, Presson Corporation, acquired the asset from the seller, Angelo Gordon & Co.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $27,000,000
- Address: 455 North 3rd Street, Phoenix, AZ
- Market: Phoenix, AZ
Presson Corporation successfully completed the acquisition of Phoenix's Arizona Center. This downtown entertainment destination was sold for $27 million, making it a notable transaction in the retail sector. Angelo Gordon & Co acted as the seller in the deal, while Presson Corporation emerged as the buyer.
Players
Philadelphia Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93