STNL investor buys a 53-bed Arkansas asset for $131.5 million in a complex deal
By John B. Mugford
The Landes Group of Dallas recently made its second major healthcare real estate acquisition of the year, the $131.5 million purchase with CGA Capital of the 53-bed, 108,055 square foot Encore Medical Center specialty hospital in Bryant, Ark. (Photo courtesy of The Landes Group)
In an interesting deal that closed in early August in Bryant, Ark., a suburb about 20 miles southwest of Little Rock, a new tenant signed a long-term lease for a specialty hospital building, bought the land beneath it and leased the land back to the building’s new owner.
The building is Encore Medical Center, a 53-bed, 108,055 square foot specialty hospital that was purpose-built in 2021 by Arkansas Heart Hospital. The new owner of the building is Dallas-based The Landes Group, a net-lease investor focused on corporate and healthcare real estate (HRE) facilities. The new building tenant, specialty hospital operator and owner of the land is Little Rock-based University of Arkansas for Medical Sciences (UAMS).
According to Arnold, Md.-based Revista and its RevistaMed subscription-based HRE data service, The Landes Group paid $131.5 million, or $1,377 per square foot (PSF), for the building at 1901 Encore Way, which is part of a medical corridor a few blocks from U.S. Interstate 30.
As noted, as part of the transaction,
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