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Midtown Medical Buildings Sold for Combined $34.4MLock Icon

2 min read

You might have heard that two medical office buildings in midtown Little Rock sold, but did you know the price?

Welltower OM Group LLC of Toledo, Ohio, a company that invests in health care real estate, bought the 69,734-SF Midtown Medical Park Building at 6119 Midtown Ave. for $17.9 million.

The seller was Little Rock Midtown Ltd.

You might recall that building, which opened in 2015, sold in October 2016 as part of a five-building, 30-acre property, for $44 million to an affiliate of Provident Realty Advisors Inc. of Dallas.

Also included among the five buildings was the 212,906-SF Doctors Building at 500 S. University Ave., which also sold earlier this month, for $16.5 million.

The buyer of the eight-story Doctors Building, which opened in 1962, was Midtown Doctors Building LLC.

Midtown Doctors recently raised $6.8 million through an equity offering, according to its filing with the U.S. Securities & Exchange Commission.

The group behind the LLC is the Little Rock investment firm Natural Capital.

Natural Capital is led by Managing Partner Brad Henry and partners Todd Simmons, CEO of Simmons Foods of Siloam Springs; Marshall Saviers, president of Cushman & Wakefield Sage Partners of Rogers; and Brock Gearhart, president and CEO of Greenwood Gearhart Inc. of Fayetteville.

UAMS Moving In

The Midtown Medical Park Building will have a new tenant next year. The University of Arkansas for Medical Sciences will lease about 46,000 SF on three floors of the building for its new Women’s Center.

About 125 UAMS employees will work at the center.

“UAMS obstetrical and gynecological practices are currently spread over three geographic locations,” UAMS spokeswoman Leslie Taylor said in an email to Whispers. “Bringing all of these clinics together into a Women’s Center in a single location will offer easier access for patients and provide a better, more streamlined approach to patient care in all areas of obstetrics and gynecology.”

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