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pacific west land
 

 

PWDAF

Pacific West Distressed

Asset Fund, LLC

 

Ahwatukee Hills - SOLD
Cave Creek Plaza - SOLD
Desert Bloom Plaza - SOLD
Foothills Park Plaza - SOLD
Laveen Village - SOLD
McClintock and Elliot - SOLD
Oasis at the Islands - SOLD
Pepper Ridge Plaza - SOLD
The Plaza in Scottsdale - SOLD
Shops at Tatum & Dynamite - SOLD
Shops at Warm Springs - SOLD
Siena Canyon Square - SOLD
Sunset Commons - SOLD
Village at Surprise - SOLD
Walmart Country Club Shops - SOLD
  From the Pacific West Distressed Asset Fund, LLC
Foothills Park Plaza - SOLD
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Location 1241 E. Chandler Boulevard, Phoenix, AZ 85048
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Acquisition Date July 2010
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Total Investment $2,233,000
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Square Feet 20,173
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Highlights
Purchased at 50% of replacement cost
68% occupancy at date of purchase in strong retail area of affluent Ahwatukee Foothills neighborhood
Average household income of over $135,000 in 3-mile radius
Strong population growth and household income growth rates
Negotiate deed-in-lieu of foreclosure
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Disposition
Sold April 2016 ~$3M
Multiple - 1.71x
Gross IRR - 10.44%
Lease up to 85% in 4 years
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