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News in brief

September 3, 2020 at 2:00 a.m.

Chicago firm buys LR endoscopy site

A Chicago real estate investment firm announced Wednesday that it has acquired its first property in Little Rock, a 10,000-square-foot surgery center, and said it has plans to add more facilities.

Stage Equity Partners bought the property, which operates as the Endoscopy Center of Arkansas, at 1024 N. University Ave. The endoscopy center has been in business since 2004 and performs gastrointestinal procedures.

"We have been looking in the Little Rock market for some time and are excited to plant our first flag," said Brian Howard, founder and president of the real estate firm. "We will look to acquire additional properties in the market."

The center is a joint venture between CHI St. Vincent Health System and a group of physicians.

Stage Equity Partners is a privately held real estate investment firm specializing in health care real estate assets. The company has holdings in Illinois, Georgia, Florida, Texas, North Carolina, Wisconsin and Alabama.

-- Andrew Moreau

Providers get $1.7M for broadband work

Three broadband providers owned by WEHCO Video Inc. have been awarded $1.7 million to deliver high-speed service to rural Arkansas.

Resort Television Cable Inc. will receive $601,000 to extend service to the unincorporated community of Diamondhead, in Garland and Hot Spring counties. The plan to add 30 miles of new fiber will be completed next spring.

East Arkansas Video will add 26 miles of new infrastructure that will deliver high-speed internet to residents in Palestine in St. Francis County. This will be the first broadband service in the city, and the project will be finished next spring.

Hope Community TV Inc. was awarded $193,000 to provide broadband service to the city of Emmet, in Nevada and Hempstead counties, which also does not currently have high-speed internet service. The service should be available before the end of the year.

Funding is provided through the Arkansas Rural Connect program established by Gov. Asa Hutchinson last summer. The program also receives federal funds as part of the coronavirus-relief package.

WEHCO Video and the Arkansas Democrat-Gazette are owned by WEHCO Media Inc.

-- Andrew Moreau

Arkansas Index ends day with 2.77 uptick

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 454.21, up 2.77.

"Equities advanced throughout the session, as investors continue to add risk on hopes for additional fiscal stimulus combined with a fear of missing out on the broadening rally, as the utilities and materials sectors outperformed," said Leon Lants, managing director at Stephens Inc.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

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