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Ensemble Healthcare Properties Purchases North Valley Medical Plaza
Date:3/18/2010

Ensemble Healthcare Properties adds another 81,000 SF to its portfolio and plans $500,000 in improvements to the property. Management and leasing for the property will be handled by Ensemble DevMan of Arizona.

Phoenix, AZ (PRWEB) March 18, 2010 -- Ensemble Healthcare Properties (an affiliate of locally based Ensemble DevMan of Arizona) in a joint venture with Universal Health Realty Income Trust has announced the acquisition of the 81,000 SF North Valley Medical Plaza located on the campus of Paradise Valley Hospital in Phoenix, Arizona. The three-story building, built in 1992, was the first medical office building located on the Paradise Valley Hospital campus and has historically enjoyed excellent occupancy. Currently the property offers some excellent space opportunities for tenants of various sizes.

Ensemble DevMan of Arizona will manage and lease the property. Randy McGrane, Managing Director for Ensemble, commented, "We believe this project represents the best value and opportunity for medical tenants looking to locate in the Paradise Valley submarket. North Valley has timeless architecture, excellent public space and is the only building on campus with underground, secured parking and direct access to the hospital via a covered walkway. We are very confident that the building's occupancy will grow and stabilize under our watch and as the overall market conditions improve. We are excited to add this asset to our portfolio."

Ensemble owns and operates a portfolio of medical office buildings totaling nearly 3 million square feet in 5 states. Included in that portfolio locally is Desert Val
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