PHOENIX, AZ, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Triumph Real Estate Investment Fund I (Triumph), a Canadian investment fund based in Calgary, Alberta is pleased to announce the sale of its wholly owned Metro Phoenix shopping centre “Triumph Glendale Crossing” for gross sale proceeds of $4,100,000 USD in October 2021.
The sale is part of Triumph’s strategy to focus on acquiring and capitalizing on multi-tenant value-add properties in major markets. Triumph Glendale Crossing, a 10,466 square foot shopping centre located in Glendale, Arizona, was purchased by Triumph in January 2017 for $3,025,000 USD. The property, which was 100% leased at the time of the sale, has several outstanding tenants, including T-Mobile, Jersey Mike’s & Western Dental.
“We are very pleased with yet another sale for Triumph investors.” said David Wallach, President and Founder of Triumph. “The result of the sale, demonstrates the success of Triumph’s strategy, purchasing multi-tenant income producing properties and increase value by increasing rents, lease vacancies and replace tenants with stronger tenants. We are working to acquire additional properties in the U.S.A. through Triumph Real Estate Investment Fund II that fit our fundamentals, and we encourage investors to consider re-investment into this fund should it be suitable for your current portfolio.”
Both the purchase in 2017 and sale of the property in 2021 were handled by Keri Davies, Jason Reddington and Jon Rosenberg of LevRose Commercial Real Estate/TCN Worldwide in Scottsdale, AZ.
About TCN Worldwide
An extensive range of real estate services coupled with a personal commitment to exceed client expectations is what allows TCN Worldwide to be a leader in the commercial real estate industry. With over 1,500 commercial real estate professionals serving more than 200 primary and secondary markets worldwide, TCN Worldwide ranks as one of the largest and most comprehensive service providers in the CRE industry.
TCN Worldwide provides complete integrated commercial real estate solutions across North America, Asia, the Middle East, and Australia.
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 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
