Foundation 8 Secures $44.5M Loan for Downtown Phoenix Office Tower
Foundation 8 has secured a $44.5 million loan from Hilco Global to reposition the office component of 333 N Central Avenue in downtown Phoenix, a landmark mixed-use tower. The financing will support its transformation of the historically single-tenant corporate headquarters into a multi-tenant Class AA office space across eight floors and ground-floor retail. Foundation 8 acquired this portion in December 2025 and is working with Newmark to attract tenants by leveraging the property's high-quality design, prominent location, and proximity to key downtown amenities. The building also includes a separately owned Westin Hotel occupying its middle section. The loan will refinance existing acquisition debt while funding leasing costs, tenant improvements, and capital enhancements aimed at positioning 333 N Central Avenue as one of Phoenix's premier office destinations. Sterling Realty Capital served as the financing advisor for Foundation 8 during this transaction.
Topics: mixed-use property office repositioning real estate financing