FOR IMMEDIATE RELEASE
Officials of the Chicago-based private healthcare real estate investment firm say the facility, which houses the respected Endoscopy Center of Arkansas on a long-term lease, has an ideal midtown location
Stage Equity Partners has acquired a 10,000-square-foot ambulatory surgery center in Little Rock, Ark. The facility is fully leased on a long-term basis by the Endoscopy Center of Arkansas.
LITTLE ROCK, Ark., and CHICAGO, Sept. 2, 2020 – Stage Equity Partners LLC, a Chicago-based private real estate investment firm focusing on healthcare real estate (HRE), has acquired a 10,000-square-foot ambulatory surgery center in Little Rock. The transaction closed Aug. 24.
Located at 1024 University Ave., the facility is 100 percent leased on a long-term basis by the Endoscopy Center of Arkansas (ECA).
“We are very pleased to add the ECA building to our portfolio of healthcare properties,” says Brian L. Howard, Founder and President of Stage Equity Partners. “It houses a well-established outpatient surgery center that has been serving the Little Rock community since 2004, has a stellar reputation and performs more than 8,000 gastrointestinal procedures annually. We have been looking in the Little Rock market for some time, and are excited to plant our first flag. We will look to acquire additional properties in the market.
“The property is also in an excellent location on a midtown retail corridor and is conveniently located near other healthcare providers,” Mr. Howard adds, noting that CHI St. Vincent Hospital, the University of Arkansas for Medical Sciences (UAMS) and the Arkansas State Hospital are all within two miles.
The surgery center is leased by ECA under a triple net lease structure with almost 10 years of remaining lease term and annual rental increases. It is a fully accredited surgery center with four procedure rooms, a covered patient drop-off and 53 parking spaces.
The tenant, ECA, is a joint venture between CHI St. Vincent Health System and a group of prominent local physicians. ECA specializes in gastrointestinal procedures that don’t require an overnight stay. CHI St. Vincent, a part of Catholic Health Initiatives, is a regional health network serving Arkansas. Headquartered in Little Rock, the network includes hospitals, primary care, specialty clinics, urgent care, rehabilitation and surgery centers and home healthcare.
Financing for the transaction was provided by Little Rock-based Encore Bank.
About Stage Equity Partners
Stage Equity Partners LLC is a private real estate investment firm specializing in healthcare real estate assets. Brian Howard founded Stage to generate significant, long-term yields by focusing on America’s growing healthcare economy.
Based in Chicago, Stage acquires, develops and operates medical facilities that are generally smaller in size and scope than assets targeted by healthcare REITs. By focusing on a fragmented industry niche, Stage has been able to aggregate a top portfolio of Class A medical facilities across the Country. Stage’s portfolio includes tenants such as S&P AA rated hospital systems, leading physician groups and national medical service providers.
Stage’s portfolio presently includes assets in Illinois, Georgia, Florida, Texas, North Carolina, Wisconsin and Alabama. By focusing exclusively on healthcare properties and with a hands-on management approach, Stage is able to operate each facility in order to provide the highest satisfaction for its medical tenants and their patients. Combined with strategic location relevance and synergistic tenant mix, Stage is able to compress vacancy risks and generate substantial risk adjusted financial returns.
For additional information, please visit www.stageequity.com.
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News Media Contact:
Brian L. Howard, President, Stage Equity Partners, (847) 410-1076, bhoward@stageequity.com
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