When Altera Fund Advisors, a nationally respected real estate investment firm specializing in medical and healthcare properties, sought expert property management for key assets in their Arizona portfolio, they turned to Plaza Companies — a long-time leader in healthcare real estate services. Altera entrusted Plaza with the management of four significant medical office properties across the Valley, totaling more than 220,000 square feet of space.
The cornerstone of this portfolio is Paradise Valley Medical Plaza, a five-story, Class A medical office building encompassing 104,213 square feet on the campus of Paradise Valley Hospital in Phoenix. Plaza Companies not only developed the property in the late 2000s but has also served as its property manager since inception. Under Plaza’s stewardship, the building has become a premier healthcare destination in one of the most competitive real estate submarkets in the region. Their management team has maintained the facility’s high standards, ensured operational efficiency, and supported tenant satisfaction—key drivers behind the property’s long-standing success.
Also included in the portfolio are Arrowhead Medical Plaza I & II, medical office buildings located in Glendale. Built in 1992, the properties span a combined 79,461 square feet of Class B space and feature extensive parking for healthcare tenants and their patients. Plaza Companies had previously managed the buildings, bringing familiarity and continuity that translated into seamless day-to-day operations. Their deep understanding of healthcare facility needs has been instrumental in tenant retention and operational cost control.
Palm Valley Medical Center in Goodyear rounds out the portfolio — a two-story, 38,637-square-foot Class B medical office building with well-designed floor plates and infrastructure suited to medical tenants. With Plaza Companies’ experienced team overseeing the property, Palm Valley is poised for operational enhancements that align with Altera’s broader investment goals.
Altera Fund Advisors’ decision to partner with Plaza Companies across multiple properties speaks to Plaza’s unmatched expertise in the medical office sector. With over $450 million in real estate assets acquired by Altera and its affiliates, the firm sought a partner capable of maximizing asset value while delivering exceptional service to tenants. Plaza’s ability to integrate high-level property management with a deep understanding of the healthcare industry made them the ideal choice.
This portfolio illustrates Plaza Companies’ consistent ability to elevate property performance, enhance tenant experiences, and maintain long-term value for ownership. Whether through decades-long relationships or new management opportunities, Plaza continues to set the standard for excellence in healthcare real estate management.