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GlobeSt.com EXCLUSIVE: Receivership Sought For Abandoned Medical Plaza

PHOENIX-The Bank of Hawaii takes action as holder of a $4.9-million note for 909 E. Brill St. The owning entity is an Arizona LP, with Los Angeles ties, that allegedly abandoned the property when tenant, Phoenix Children's Hospital, exited in 2000.

By Beverly Ford | Updated on October 09, 2002

PHOENIX-The holder of a promissory note of nearly $4.9 million has asked a judge to place a medical plaza, once occupied by Phoenix Children’s Hospital, into receivership because its Los Angeles-based owners have defaulted on the loan and abandoned the property.

The Bank of Hawaii filed the receivership request in Maricopa Superior Court Sept. 19, stating in court papers that Brill Medical Plaza LP still owes about $3.9 million on its 1988 promissory note used to purchase the medical center at 909 E. Brill St.

Phoenix Children’s Hospital leased the site for monthly rents ranging from $40,450 to $42,877 from 1988 to 2000. The hospital has since vacated the building.

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