PHOENIX (April 17, 2014) – Rialto Capital, a national real estate investment and asset management company and wholly-owned subsidiary of Lennar (NYSE: LEN)and Phoenix-based joint venture partners Ironline Partners (Karber, O’Neil, Petznick, principals) and John Grahamhave acquired a mid-century modern office tower at 111 West Monroe from General Electric Credit Equities, Inc. for $22 million dollars. Funding for the acquisition was provided by Rialto Real Estate Fund II, Ironline Partners and Jeffries LoanCore.
Clear Title Agency of Arizona (Carol Rieger, Senior Officer) handled the transaction. General Electric Credit Equities, Inc. was represented by Colliers International (Charles Miscio, Executive Vice President of Office Properties). Miscio will retain the leasing assignment for the property. “The core urban address, premier penthouse space (with up to 27,000 contiguous square feet), high profile naming rights, flexible ‘spec suite’ options, prominent street level presence, local ownership and on-site management make 111 West Monroe an appealing option for both large companies in search of corporate and regional headquarters and smaller firms who want to be near the center of business, government, educational and entertainment.” said Miscio.
Rialto Capital and Ironline Partners are actively looking for additional acquisitions across the spectrum of asset classes, including retail, office, industrial and residential. Contact Mathew Avrhami at Rialto Capital (480.783.8655) and Bob Karber at Ironline Partners (602.274.9000) with purchase and sale inquires and Charles Miscio at Colliers International (602.222.5192) with leasing inquiries.
Mathew Avrhami
Mat.avrhami@rialtocapital.com
rialtocapital.com
T. 480.783.8655, C. 602.690.4500
Roberto Karber, Esq.
Bob@mkcfirm.com
ironlinepartners.com
T. 602.274.9000, C. 602.321.9335
Charles Miscio
Charles.miscio@colliers.com
colliers.com
T. 602.222.5192, C. 602.705.5220
Carol Rieger
Crieger@cleartitleaz.com
cleartitleaz.com
T. 480.278.8425
