
Charter School Capital of Portland, Oregon, announced Tuesday that it has acquired the LISA Academy West Middle School property at 21 Corporate Hill Drive in Little Rock for $3.4 million.
It’s the company’s first transaction in Arkansas.
As part of the acquisition, Charter School Capital has assumed the existing lease on the 18,796- SF building through 2027. The company said it focuses solely on charter school needs, providing customizable facilities financing options to charter schools, and school leaders retain control of their buildings. Those leaders are granted flexibility to make modifications necessary to expand enrollment and academic programs, according to a news release.
LISA Academy West Middle School is part of a larger organization, Little Scholars of Arkansas, that operates five schools in three buildings and has about 2,100 students.
The middle school teaches a STEM curriculum to 356 students in grades 7-8, has a waiting list that exceeds 300 students and holds a 13-year charter that expires in 2030.
“We are delighted to assure LISA a long-term home in which to provide students with a rigorous college preparatory program,” Stuart Ellis, president and CEO of Charter School Capital, said in the release. “We believe strongly in the mission of LISA, and as the facility owner we want to do all we can to support the school in preparing its students for future academic challenges and adventures.”
CEO/Superintendent Fatih Bogrek said, “At LISA Academy, we strive to be a leader in the provision of STEM-focused K-12 education in Arkansas. Our new partnership with Charter School Capital fits nicely in our vision for Central Arkansas.”