Health care trust spends $107 million on Phoenix-area office buildings

Last week, Arizona’s big real estate deals involved foreclosures on prominent developments under construction – CityNorth in Phoenix and the Centerpoint condominium towers in Tempe.
This week’s big deal is the large cash acquisition of Sun City-area medical office buildings by a Scottsdale-based investor, a transaction that conveys more confidence in the area’s real estate market.
Scottsdale-based Healthcare Trust of America, a real estate investment trust, has paid $107 million in cash for 17 properties in Sun City and Sun City West.
“These assets provide stability and growth potential. We were able to secure this unique opportunity because of our strong …

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