LR’s BSR buys Texas complex built in ’19
BSR Real Estate Investment Trust is adding another newer apartment property in the Dallas area to its real estate portfolio. The Little Rock company has acquired Aura Castle Hills Apartments, a 276-unit complex built in 2019.
The garden-style community in Lewisville, Texas, was purchased with BSR’s line of credit and the property will be immediately accretive to earnings, the company said. The acquisition continues BSR’s strategy of adding new properties rich with amenities in the Sun Belt region while selling off older properties in rural markets.
“Aura Castle Hills is a modern community in one of BSR’s high-growth targeted markets,” said chief executive John Bailey. “This purchase is another example of BSR’s superior execution on our capital recycling strategy. Aura Castle Hills has all of the amenities our residents treasure and value.”
BSR owns 1,984 apartment units in the Dallas/ Fort Worth area, representing about 24% of the company’s net operating income. Overall, BSR owns and manages 40 multifamily garden-style properties consisting of 9,681 units.
— Andrew Moreau
Tyson exec to take Harley financial role
Gina Goetter, a finance executive at Tyson Foods, will become Harley-Davidson’s chief financial officer, the motorcycle maker said in a news release this week.
Goetter joined Tyson last year as senior vice president and chief financial officer of the company’s prepared-foods business. Before that she worked at General Mills in various financial roles for 20 years.
“Gina is a CFO with the experience to drive a transformation of core processes and reporting for improved operational efficiency,” Jochen Zeitz, chairman, president and chief executive of Harley-Davidson, said in a prepared statement. “She will add to the fresh perspectives and new capabilities now represented at the leadership level.”
Harley-Davidson has undergone a series of changes since April, when it began “rewiring” the company to make it more lean and nimble. This included hundreds of job cuts and executive resignations.
Darrell Thomas, who was the interim financial executive, will continue as vice president and treasurer as Goetter assumes her new role.
— Nathan Owens
Arkansas Index adds 1.91 as 9 stocks rise
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Friday at 414.16, up 1.91.
Nine of the index stocks rose as the Dow gained more than 350 points and tech stocks posted their biggest rise in two weeks.
Dillard’s Inc. shares rose 5.1%, followed by P.A.M. Transportation at 4.1%.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.