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ViaWest JV sells Biltmore Center in Phoenix for $212M

A partnership between ViaWest Group and Prospect Ridge Advisors LLC sold the three-building Biltmore Center in Phoenix for $212 million.

The multi-tenant office property, spanning about 643,145 square feet, was sold to a newly formed venture in which ViaWest keeps an ownership and management position.

JLL Capital Markets secured a roughly $150.7 million loan on behalf of ViaWest and its new partner to fund the acquisition.