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story.lead_photo.caption PTCOA Freeway ASC LLC paid $3.4 million last month for the Arkansas Surgery & Endoscopy Center building at 9 Freeway Drive in Little Rock. - Photo by John Sykes Jr.

PTCOA Freeway ASC, a limited liability company, spent $3.4 million to buy an Arkansas Surgery & Endoscopy Center building in Little Rock last month.

PTCOA stands for Pain Treatment Centers of America.

Dr. Meraj Siddiqui and Dr. Ronald Tilley are co-managers of PTCOA Freeway ASC LLC. They also are cofounders of Pain Treatment Centers of America.

David Smith is an officer of the limited liability company, which is at 8907 Kanis Road Suite 400 in Little Rock.

The building, constructed in 1999, is at 9 Freeway Drive near South Rodney Parham Road and West 12th Street.

The property, with an almost 11,400-square-foot building and more than 1.5 acres, last appraised at $2.3 million. About 65 percent of the building is an outpatient surgical center and 35 percent is office space.

PTCOA Freeway ASC LLC borrowed $2.8 million from First Community Bank in Batesville to finance the purchase. The mortgage matures in 2025.

A spokesman with Pain Treatment Centers did not return a phone call seeking comment.

Pain Treatment Centers of America have about 10 offices in Arkansas, including in Batesville, Bentonville, Conway, Little Rock, North Little Rock, Searcy, White Hall and Mountain Home.

Arkansas Surgery & Endoscopy Center lists its headquarters as 2800 Hazel St. in Pine Bluff.

Dr. Syed Samad and Ahmed Samad are managers of Arkansas Surgery & Endoscopy Center.

ENTERGY SUBSTATION

Entergy Arkansas Inc. paid Kim Properties $765,000 last month for 12 acres off MacArthur Drive in North Little Rock.

The utility plans to build a new distribution substation and interconnection to the transmission line, said Kerri Case, an Entergy spokesman.

Entergy is planning to build similar substations in other parts of the state.

The utility is not required to get approval for land acquisitions from the Arkansas Public Service Commission, Case said.

OTTER CREEK

BSR Trust LLC paid $432,000 last month to buy about 6 acres at the Baseline Road entrance to the Otter Creek neighborhood near Wimbledon Green Apartments.

BSR plans to build the second phase of Wimbledon Green Apartments on the land, said Daniel Oberste, BSR's chief investment officer. The second phase will have 156 units, Oberste said.

The seller was Otter Creek Land Co.

Oberste declined to disclose when the new apartments will be built or the cost of construction.

BSR owns 46 garden-style complexes with more than 9,200 units in five states.

In addition to Wimbledon Green Apartments, BSR Trust also owns Bowman Heights, Briarwood, Markham Oaks, South Oaks, Spring Valley and The Waterford apartments in Little Rock and Indian Hills and Overbrook apartments in North Little Rock.

In Arkansas, BSR also owns apartments in Conway, Fayetteville, Hot Springs and Blytheville.

BSR also owns apartment complexes in Louisiana, Mississippi, Oklahoma and Texas.

145TH STREET LAND

N&M Davis LLC of Nashville paid almost $189,000 for about 215 acres near Interstate 530 and 145th Street in south Pulaski County.

The seller was Greenwing Properties LLC of Springdale. Greenwing paid $220,000 for the property in 2016.

The new owner plans to resell the property, said a spokesman for N&M Davis, who asked not to be identified.

"We're looking for a buyer right now," the spokesman said.

About 165 acres of the property has 2-year-old pine trees growing on it, the spokesman said. The new owner is willing to divide the land into smaller tracts.

SundayMonday Business on 02/25/2018

Print Headline: Pain Treatment Centers firm buys building in LR for $3.4M

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