Carey Gets Financing for US Airways Building in Tempe AZ
CRENews.com, August 14, 2009
W.P. Carey & Co. has obtained $19 million of financing for U.S. Airways Group’s corporate headquarters building in Tempe, Ariz. Carey, a New York investment firm that specializes in single-tenant, net-leased properties and in sale-leaseback transactions, built the 225,000-square-foot headquarters at 111 W. Rio Salado Parkway for U.S. Airways in 1999.
Dominion Realty Capital of New York arranged the floating-rate financing, which Carey has used to take out previous debt on the building. A regional bank provided the fresh debt.