Equity firm acquires 2 hotels in NW area
Two Northwest Arkansas hotels, one in Bentonville and the other in Rogers, have been sold to Investra Capital Inc., according to a Thursday release.
The 78-room TownePlace Suites by Marriott on Southeast 14th Street in Bentonville and the 130-room Candlewood Suites on West Rozell Street in Rogers were part of a portfolio of properties sold for an institutional client by Hunter Hotel Advisors of Atlanta. The properties will continue to be managed by Hospitality Ventures Management Group, based in Atlanta.
In a statement, David Perrin, vice president with Hunter Hotel Advisors, said the properties sold were in prime locations and saw constant demand from Wal-Mart Stores Inc. employees and consultants who visit the Bentonville headquarters of the world's largest retailer.
Investra is a private equity firm that invests in the real estate sector. It has offices in Atlanta and London.
-- John Magsam
Wichita group says it's a Tyson finalist
Tyson Foods has narrowed its choices down to three Kansas sites for a high-tech chicken plant that's expected to employ 1,600 workers, the Greater Wichita Partnership confirmed Thursday.
Several communities interested in Tyson's plans have contacted the Kansas Department of Agriculture, a company spokesman wrote in an email.
"[The Kansas Department of Agriculture] has helped us narrow the search to a few communities that offer the infrastructure, labor pool, farmer interest and land requirement for this investment," Tyson spokesman Worth Sparkman said.
Sedgwick County is one of the sites in consideration, according to the Greater Wichita Partnership, a group that promotes the regional economy.
The $320 million processing plant was to be built in Leavenworth County, until Tyson faced strong opposition from residents.
-- Nathan Owens
State index closes at 370.60, up 0.65
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 0.65 to 370.60 Thursday.
"U.S. equities followed overseas markets and opened lower with volatility, rising the most in over a month, but stocks reversed course and closed the day relatively flat with utilities outperforming and consumer staples underperforming the broader market," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Total volume for the index was 31.5 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 10/20/2017