PHOENIX, AZ, July 20, 2022 (GLOBE NEWSWIRE) -- Triumph Real Estate Investment Fund II (“Triumph”), a Canadian investment fund based in Calgary, Alberta, has acquired 4130 E Van Buren St. Phoenix AZ. Triumph Real Estate Investment Fund was represented by Keri Davies, Jason Reddington, and Jon Rosenberg of LevRose Real Estate/TCN Worldwide in Scottsdale AZ. The Van Buren acquisition closed on June 30, 2022.
“We are excited to add a fourth property to the Triumph Fund II portfolio. We believe that the suburban office market in Phoenix will continue its positive absorption, as tenants seek alternative office towers following the pandemic," said David Wallach, President and Founder of Triumph.
The Van Buren property is composed of 31,475 SF, Lot size 60,140 SF with 109 parking stalls. The property at the time of closing is over 83% occupied and was purchased at a significant discount to replacement cost, which provides Triumph a significant value-add opportunity.
About TCN Worldwide
Founded in 1989, 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 $47.3 billion in transactions annually across its 60+ offices 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 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 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 Group of Funds (“Triumph Funds”)
The Triumph Funds are Canadian investment funds that have been created 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 Triumph Funds focus on identifying undervalued and undermanaged properties located in Ontario, Saskatchewan and Alberta in Canada, as well as Texas, Arizona, Colorado, Nevada, Oregon and Washington in the United States.
For further information visit www.triumphref.com or contact David Wallach at info@triumphref.com.
Attachment
