Property Details
Deer Valley Professional Center
Property Information
ADDRESS: 20414 N 27th Avenue,
Phoenix, AZ
SIZE: 86,000 SF
DATE ACQUIRED: June 2010
REDEMPTION: June 2012
Property Description
Deer Valley Professional Center is an 86,000-square-foot office property wherein the senior debt position was acquired directly from the bank at a 52% discount. The property was then foreclosed on, asset management was taken in-house, and the occupancy was increased to 90%. After completion of the business plan, Fenway was redeemed by its equity partner per a previously negotiated arrangement.
