PHOENIX — American Realty Capital Healthcare Trust (ARC Healthcare) has acquired Paradise Valley Medical Plaza, a 104,000-square-foot medical office building in Phoenix, for $28.3 million. The Class A building is located at 3805 East Bell Road, on the Abrazo Paradise Valley Hospital campus.
Paradise Valley Medical Plaza was 90 percent occupied at the time of sale. The property was sold by RP Paradise Valley LLC, a joint venture between Plaza Companies and USAA Real Estate Company.
Plaza will continue to provide leasing, construction services and property management for the building.
The medical office building was sold to ARHC PVPHXAZ01 LLC, a subsidiary of ARC Healthcare.
Plaza Companies and ARC Healthcare are also collaborating on Arrowhead Professional Center in Glendale, which is owned by ARC Healthcare and managed by Plaza.