The owner of a notable downtown Phoenix tower closed on a $44.5 million loan to renovate and reposition the property for new office users. Foundation 333, LLC acquired the top portion of the 26-story high-rise located at Third Street and North Central Avenue at the end of 2025.
The property, built in 2009, includes 246,490 square feet of office space across the top eight floors of the tower, 2,522 square feet of ground-floor retail space, rooftop amenity rights and shared access to the building’s parking structure. A separately owned 242-key Westin Hotel occupies the middle portion of the building.
The financing will be utilized for the repositioning of the office space from a single-tenant corporate headquarters into a multi-tenant office property. Previously, Landmark Title worked with an affiliated entity of Foundation 333, LLC on its acquisition and closing of another hotel property, the Sheraton Crescent, in March 2026.