Platinum Advisors and RBC Dev Company buy Chandler office campus for $30.5M
North Beacon Capital sold the 10-building campus at $253 per square foot; the buyers are pursuing an office-condo model.
At a glance
Platinum Advisors and RBC Dev Company bought the 10-building Chandler Center Commons in south Chandler, Ariz., for $30.5 million, or $253 per square foot, from North Beacon Capital, a Boston-based real estate investment group.
The joint venture made a $14 million down payment and took a $16.5 million loan from Banterra Bank, according to a deed of trust cited by the Business Journal.
The campus was 94.4% leased to 19 office and medical-office tenants at the time of sale, per PRED's records, and spans 120,516 square feet.
Platinum Advisors and RBC Dev Company bought the 10-building Chandler Center Commons in south Chandler, Ariz., for $30.5 million, or $253 per square foot, from North Beacon Capital, a Boston-based real estate investment group. The Real Deal reported the sale on Oct. 20, citing the Phoenix Business Journal; PRED reported the same transaction on Oct. 16.
The joint venture made a $14 million down payment and took a $16.5 million loan from Banterra Bank, according to a deed of trust cited by the Business Journal. That loan equals about 54% of the purchase price.
The campus was 94.4% leased to 19 office and medical-office tenants at the time of sale, per PRED's records, and spans 120,516 square feet. The buyers are pursuing an office-condo model at the campus, according to The Real Deal.
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