By Eric Althoff
LITTLE ROCK, Ark.—Flagship Healthcare Trust, a real estate investment trust managed by Flagship Healthcare Properties, has acquired Little Rock Diagnostic Clinic’s (LRDC) medical office building in the Arkansas capital city.
The LRDC clinic houses 96,692 square feet of medical office space. It opened 60 years ago and has since expanded to become the largest multi-specialty practice in the entire central region of the Natural State.
“We are honored to have been chosen by the physician partners of Little Rock Diagnostic Clinic for our first acquisition in the Little Rock market,” Gerald Quattlebaum, senior vice president of acquisitions at Flagship, said in a statement. “It was a pleasure working with the leadership at LRDC, and the entire Flagship team looks forward to supporting their continued growth and success as their real estate partners.”
Flagship Healthcare Properties has taken over the property from the physician partners of LRDC. The LRDC employs nearly three dozen specialists in fields as diverse as internal medicine, neurology, endocrinology, gastroenterology, podiatry, pulmonology, OBGYN and rheumatology.
The LRDC is situated on the campus of Baptist Medical Center and boasts a diagnostic imaging center, ambulatory surgery center, a COLA Laboratory of Excellence accredited lab and also an infusion therapy center.
“After extensive diligence and deliberation, LRDC Real Estate LLC has decided to partner with Flagship Healthcare Properties,” said Nutan Bhaskar, M.D., who also serves as vice president of LRDC Real Estate. “The physician partners of LRDC Real Estate LLC have the utmost confidence in the management team of Flagship Healthcare.”
LDRC’s specialists across many medical disciplines draw patients from throughout Arkansas as well as Alabama, Louisiana, Mississippi and Oklahoma.
Flagship Healthcare Properties manages 3.9 million square feet of healthcare space throughout the Southeast and Mid-Atlantic regions.