PHOENIX—Palisades Private Capital Fund I, a $50-million fund sponsored by Palisades Mexico Partners, has acquired, 4141 N. Scottsdale Rd., a 147,356-square-foot, 91.3% leased, three-story, class A office building in Scottsdale. Located in Old Town, the asset is surrounded by countless amenities, an excellent demographic and a highly professional labor pool.
PMP is a joint venture of Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors, LLC, a U.S.-based investment management and advisory firm, and Sergio Argelles, president/CEO of Monterrey, Mexico-based FINSA.
De Monet tells GlobeSt.com, “We like the diversity and fundamentals of the area. Vacancies are tightening and we're excited about the future. Old Town is a terrific market and we're happy to participate in the future of it.
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