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Triumph Real Estate Investment Fund II Agrees to Acquire Industrial Flex Property for $4,675,000
SCOTTSDALE, AZ (September 23, 2020) — Triumph Real Estate Investment Fund II (“Triumph”), a Canadian investment fund based in Calgary, Alberta, is pleased to announce that it has agreed to acquire a mixed use Industrial/Office building (the “Property”) located in Scottsdale, AZ. for $4,675,000.00 USD, at 6.9 Cap Rate. Jon Rosenberg, Jason Reddington and Keri Davis with Levrose Commercial Real Estate/TCN Worldwide negotiated this acquisition on behalf of Triumph.
“We are very pleased to add another property to Triumph’s group of funds growing portfolio in The Greater Phoenix and Greater Denver areas” said David Wallach, President and Founder of Triumph.
The Property is comprised of 29,000 square feet mixed and is located in the highly desired Scottsdale Airport Business Park. The Property is a multi-tenant building with a good mix of industrial and office users. Academy Bank had agreed to finance the acquisition at 66.3% loan to value. The Property is 98% leased, with one office vacancy available at time of purchase.
“This acquisition aligns with Triumph’s acquisition fundamentals in acquiring multi-tenant properties, in class A locations. Our goal is to continue to expand the Triumph portfolio in the greater Phoenix and greater Denver markets as well as other states throughout the central and western U.S.,” Wallach said.
About TCN Worldwide
TCN Worldwide ranks as one of the largest service providers in the commercial real estate industry. An alliance of top independent brokerage firms serving more than 200 primary and secondary markets worldwide, TCN Worldwide provides complete integrated commercial real estate solutions across North America, Asia, the Middle East, and Australia.
Offering an extensive range of real estate services coupled with a personal commitment to exceed client expectations, TCN Worldwide represents approximately $41.3 billion in transactions annually across its 60+ office and more than 1,500 commercial real estate professionals.
For more information on TCN Worldwide, contact H. Ross Ford at 972-769-8701 or visit www.TCNWorldwide.com
About Levrose Commercial Real Estate/TCN Worldwide
Levrose Commercial Real Estate/TCN Worldwide is a market leader in commercial real estate services in the Greater Phoenix metro area. Since 1992, Levrose has been helping clients with every aspect of leasing, buying, selling and managing commercial properties. With some of the top professionals in the industry, Levrose Commercial Real Estate/TCN Worldwide takes a higher level of accountability for each client. Commercial Property management is handled through affiliate firm MODE Real Estate Management Services. MODE has a unique, professional approach to the management of office, retail and medical properties.
For further information visit: www.levrose.com
About Triumph Real Estate Investment Trust
Triumph Real Estate Investment Trust was created in order to offer investors the opportunity to strategically invest in multi-tenant industrial, retail and office buildings alongside a strong and experienced management team with over 60 years combined experience.
The Trust will focus on identifying undervalued and undermanaged properties located in Ontario, Saskatchewan and Alberta in the Canadian Market, as well as Texas, Arizona, Colorado, Nevada, Oregon and Washington in the U.S.A. Market.
For further information visit: www.triumphref.com