“The Metropolitan Phoenix investment market continues to post significant benchmarks towards full recovery,” continues CBRE's Gabel. “This property last traded at $283 per square foot in 2011, and this most recent sale marks a 7.6 percent increase at $305 per square foot. Investors recognize momentum in the market and we expect this is just the beginning of an active and healthy 2015.”

“The sale of this property is part of our ongoing active portfolio management strategy,” explains Thomas W. Roberts, executive vice president, real estate at ARCP. “During the third quarter of 2014 we began evaluating opportunities to bring this high-quality asset to market and maximize its value, capitalizing on the increasing strength of the Phoenix commercial real estate market.”

“This is another example of the increasing investment of foreign capital in all US markets. This property provides our off shore investor the stability of a long-term, 16 year remaining, net lease with one of the largest educational companies in the world,” says Shannon. “In addition, the annual rent increases of two percent provides the investor predictable annual revenue growth over the life of the lease.”

“This transaction served as an ideal opportunity to bring together world-class sponsorship and Goldman Sachs as the lender,” says Francis. “The borrower and lender worked closely and diligently on the financing of this office campus, which serves as the World Headquarters for the Apollo Group. From loan application to loan closing, it took just over 30 days to complete the transaction.”

The Apollo Group Headquarters campus is 100% leased to Apollo Group, Inc., one of the nations largest providers of higher education programs for working adults. It is comprised of three office buildings, one 10-story building at 267,962 square feet and two six-story buildings each comprised of 165,851 square feet, and two multi-level parking garage structures. The campus is home to approximately 2,850 executives and employees of Apollo Group, Inc.

This state-of-the-art, institutional-quality campus is centrally located within the Phoenix metropolitan area. It is adjacent to Interstate 10, providing access to Highway 60, Interstate 17, and Loop 202 and 101 freeways. The campus is within a ten-minute drive from both downtown Phoenix and downtown Tempe, a five-minute drive to Sky Harbor International Airport and benefits from proximity to numerous amenities, including restaurants, hotels and a variety of retailers.