News in brief

Dallas firm acquires

LR's Summit House

The Goodman Group of Chaska, Minn., sold the Summit House Apartments this month for $10.8 million, Berkadia Real Estate Advisors said Friday in a news release.

Berkadia, a New York-based joint venture of Berkshire Hathaway and Leucadia National Corp., represented Goodman in the deal. Patrick Jordan, senior director of Berkadia's Memphis office, and Alex Blagojevich, managing director of the Chicago office, negotiated the sale.

The buyer was Summit House LLC, an affiliate of davis RE of Dallas.

The property was appraised at $8.4 million.

The apartments are at 400 N. University Ave. in Little Rock, near the intersection of University and Markham Street.

Built in 1963, the 165-unit, 14-story complex has 22 studios, 38 one-bedroom units, 70 two-bedroom units and 35 three-bedroom units.

-- David Smith

2 Jonesboro stations

partner for newscast

Two northeast Arkansas TV stations established two years ago are set to start a joint news broadcast next week, according to the affiliates.

Jonesboro's Fox and CBS affiliates said Northeast Arkansas News, a weeknight news program airing at different times each weeknight, will begin serving viewers in the state's northeast Monday, according to a statement.

Both stations air under the call letters KJNB-TV, with Fox 39 as the primary channel and CBS 39 as a secondary digital channel.

"Northeast Arkansas News will offer Jonesboro and the surrounding area a compelling brand of news that will give a new voice of local events and happenings," said journalist Lon Tegals.

Tegals has more than 30 years of experience working at TV stations and directed the start of Fox and NBC stations in Biloxi, Miss.

The show's anchor team will include Sarah Blakely, an alumna of Purdue University's Brian Lamb School of Communication, according to the statement.

-- Brandon Riddle

Bank of Ozarks leads

as index climbs 1.27

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, advanced 1.27 to 341.84 Friday.

Eleven stocks advanced and seven declined.

Bank of the Ozarks rose 3 percent on active volume.

America's Car-Mart fell 2.9 percent in light trading.

For the week, 12 stocks rose and six fell.

Dillard's had the best week, gaining 5.9 percent.

Bear State Financial fell 2.4 percent for the week.

Total volume for the index was 24.3 million shares. The average daily volume for the week was 23.7 million shares.

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

Business on 07/15/2017

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