Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $50.69 million in financing for US Bank Center, a 31-story, Class A office tower and a nearby 456-space parking garage with ground floor retail in Phoenix, Arizona.
HFF worked on behalf of the borrower, a partnership between ScanlanKemperBard Companies and Värde Partners, Inc., to secure the three-year, floating-rate loan through an affiliate of Walton Street Real Estate Debt Fund I, LP.
The offering was comprised of the 359,212-square-foot, recently-renovated US Bank Center tower at 101 N. 1st Avenue and a parking garage located one block north at 21 West Van Buren that offers 456 parking stalls and 13,504 square feet of ground floor retail. The project was renovated in 2013 and is currently 63 percent leased to tenants, including Union Market, which is a modern retail concept that at US Bank Center features a bar, Mexican restaurant, sushi shop and salon studio as well as individual spaces for small office users, designers and more. US Bank Center is the second tallest building in the state and as such offers unparalleled views of downtown Phoenix and the surrounding mountain landscapes. Its location in the core of downtown Phoenix is proximate to State Routes 51 and 202 and Interstates 17 and 10 providing connectivity to the greater Phoenix area, and not far from Phoenix Sky Harbor International Airport, Chase Field and the Phoenix Convention Center.
The HFF debt placement team representing the borrower was led by senior managing directors Jeremy Womack and Tom Wilson.