AKS Capital Partners Serves as Exclusive Advisor on Debt Placement
A newly-formed partnership of Phoenix-based ViaWest Group and New York City-headquartered Taconic Capital Advisors LP today announced it closed on $34 million in debt financing from lender Amherst Capital Management, a real estate investment specialist offering traditional and alternative strategies to institutional clients in the public and private real estate credit markets. The loan is being used for the $27 million acquisition, closed on January 14, 2020, and future repositioning of Canyon Corporate Plaza, a Class A office campus located in the Northwest Phoenix Corridor. AKS Capital Partners, one of New York City’s premier, independent capital markets advisory firms served as exclusive advisor on the debt placement.
Canyon Corporate Plaza is a core plus office campus located at 2510 and 2512 W. Dunlap Avenue in one of Phoenix’s best performing submarkets. The property is comprised of two buildings -- Canyon Corporate Plaza I, a six-story, 132 774 SF office building, and Canyon Corporate Plaza II, a five-story 169 747 SF building, and includes two parking garages and 6.4 acre parcel of developable land. The properties benefit from their superior transit-oriented location, some of the best signage opportunities along the I-17 corridor and a market-leading 8.0 per thousand parking ratio.
With the property’s acquisition complete, the Joint Venture Partners plan to renovate and reposition the buildings as leases roll and create vacancies. Well-capitalized and highly experienced, ViaWest and Taconic Capital both share a deep understanding of the Phoenix market and since late 2016 have together invested in approximately $90 million worth of value add office transactions across approximately 850,000 square feet in the market.
“We are extremely excited about this acquisition and our continued growth in Phoenix with the ViaWest team,” commented Eric Sitman, a Director at Taconic Capital Advisors, speaking on behalf of the Joint Venture. “AKS was able to source the perfect financing for this transaction which provides us with the debt capital to complete base building improvements and provide TI/LC capital to attract the growing concentration of multinational tenants in the I-17 corridor.”
Financing was arranged and secured by AKS Capital Partners’ Adam Schwartz, Jonathan Schwartz, Keith Kurland , Aaron Appel, Michael Diaz and Michael Ianno.
About ViaWest Group
Established in 2003, ViaWest Group is a Phoenix-based, full-service commercial real estate investment, development, and property management firm. ViaWest Group has been one of the fastest growing real estate investment companies in the Southwest U.S. over the last few years with over $400 million of acquisitions and development. Since inception, ViaWest has been involved in over $1 Billion of acquisitions. ViaWest Group is currently seeking to acquire and develop more office, industrial, retail buildings and land parcels in the Southwestern U.S. Visit our website www.viawestgroup.com or contact Lindsay Bennett at (602) 957-8300 ex.116.
About Taconic Capital Advisors
Taconic Capital Advisors L.P. is a global institutional investment firm founded in 1999 by former Goldman Sachs partners Frank Brosens and Ken Brody. Taconic pursues an event-driven, multi-strategy investment approach dedicated to generating strong risk adjusted returns with an emphasis on capital preservation. The firm has offices in New York, London and Hong Kong with 39 investment professionals, including 9 investing principals who average 14 years of investment experience at Taconic and 76 business function professionals across legal/compliance, finance, operations, technology and investor relations.
About AKS Capital Partners
Established by Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz in 2019 and headquartered in New York, AKS Capital Partners is a leading real estate capital markets advisory firm active in debt placement, equity placement, loan sales and distribution. AKS focuses on tailored solutions for portfolio level debt and equity capital for developers, institutional and entrepreneurial sponsors across all asset classes nationally. In 2019, alone they closed in excess of $15+ billion in transaction volume placement for their clients.
About Amherst Capital Management
Amherst Capital Management LLC is a real estate investment specialist with approximately $5.7 billion of assets under management[2]. Amherst Capital was established in 2014 as a majority-owned subsidiary of BNY Mellon, and is minority-owned by Amherst Holdings, LLC. Amherst Holdings is not an affiliate of BNY Mellon. Texas Treasury Safekeeping Trust Company is a founding seed investor of Amherst Capital[3]. Amherst Capital offers traditional and alternative real estate investment strategies to private and institutional investors globally. Amherst Capital's investment strategies are grounded in deep intellectual capital and proprietary technology[4] designed to help clients meet their portfolio needs. For more information please visit www.amherstcapital.com
