CHARLOTTE, N.C. (December 20, 2021) — Flagship Healthcare Trust, a Charlotte-based outpatient healthcare real estate investment trust (REIT), has acquired a Class A, 100% leased medical office building (MOB) in Benton, AR.
The 14,668 square-foot office is located at 2010 Active Way and houses a state-of-the-art diagnostic and nonoperative treatment clinic for Arkansas Bone & Joint, a leading orthopedic care practice. The MOB is ideally located in the city’s medical district with ready access to local hospitals and Interstate 30.
Benton is conveniently located midway between Hot Springs and Little Rock. Little Rock is the state’s most populous area and a central location for economic development with major employers representing many industries and an influx of tech-related businesses.
The Little Rock metropolitan area is the state’s center for healthcare with more than 10 hospitals and medical facilities including the University of Arkansas for Medical Science, Baptist Health Medical Center, CHI St. Vincent Infirmary and more. Due to its proximity to the major city and its quality of life Benton was named one of the 50 Best Places to Live in the U.S. in 2021-2022 by Money.
This is the REIT’s third acquisition in Arkansas.
“Little Rock is the state’s nexus for many sectors including healthcare. The property is a perfect location – easily accessible to patients and providers traveling from the surrounding region,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “We are thrilled that the physicians at Arkansas Bone & Joint chose Flagship for this acquisition and we look forward to working with them to serve their real estate needs and support their mission of providing the highest quality care.”
The team at Fifth Third Bank, led by Michael Perillo, provided financing for the acquisition.