Tuesday, September 15, 2015

Two Industrial Properties Noticed on $27.8 Million in Debt

Area Map

Two buildings of the University of Phoenix Riverpoint project were noticed for trustees sale on Friday. Riverpoint Buildings I & IV total nearly 191,000 square feet in one and two-story buildings built in 2002, and were once 100% leased to University of Phoenix with leases expiring in mid-2014. Per a press release from January 2014, Cassidy Turley was seeking tenants for the property on behalf of Spirit Realty Corporation.

The subject loan is dated 2005 with an original amount of $27.8 million and Spirit Realty Capital as trustor. The loan was securitized in 2005 and is now care of US Bank as trustee, with Midland Loan Services and LNR Partners as special servicers. The loan was modified to $30.3 million in July of 2005.

For more information on this property including complete history and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!


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