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Ex Rangers manager Washington apologizes for 'breaking wife's trust'

IRVING, Texas (AP) — Former Texas Rangers manager Ron Washington says he is embarrassed for 'breaking his wife's trust.'

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Road Show: City leaders prepare campaign to corral votes for $450 million arena

Fort Worth’s biggest backers of a new arena at the Will Rogers Memorial Center are leaving little to the chance of a “no” vote in a citywide election Nov. 4 to decide on new fees that would fund 15 percent of the $450 million project.

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Overland Sheepskin opening Sundance Square store in Fort Worth

The store is expected to open by the holidays, Sundance said.

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Texas Health Southwest breaks ground on $40M expansion

A $40 million expansion of Texas Health Harris Methodist Hospital Southwest Fort Worth is under way, with groundbreaking ceremonies held this week.

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Home health firm relocates to Ridglea from downtown

Southwest Home Health Services has leased new headquarters space in the Ridglea East Building in West Fort Worth, setting a plan in motion to relocate Oct. 1 from the downtown.

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777 Main Street building sold as part of $1.1B deal

 

777 Main Street 

Cousins Properties Inc. said Monday that it reached a deal to buy a portfolio of 11 office buildings for $1.1 billion in cash, a move that expands the office and retail property owner's operations in Texas.
The deal includes 10 buildings with 4.4 million square feet of office space in Houston, as well as the 980,000 square-foot 777 Main St., a Class-A office tower in Fort Worth.


The properties are being sold by a joint venture run by Crescent Real Estate Holdings LLC.
Cousins said it expects to fund the transaction through a combination of mortgage financing, the sale of non-core assets and stock sale proceeds.


“Greenway Plaza and 777 Main Street are an excellent fit with our portfolio as they are high-quality urban properties with embedded NOI growth and future development potential,” said Larry Gellerstedt, president and CEO of Cousins. “Not only do we expect this transaction to be transformative and accretive, it immediately expands our Texas platform and provides substantial geographic diversification at a significant discount to replacement cost.”
The real estate investment trust also started a public offering of 60 million shares of its common stock, intended to help fund the purchase. The underwriters are expected to be granted a 30-day option to purchase up to an additional 9 million shares.
The transaction is expected to close by mid-September.


JP Morgan Securities LLC served as the company’s exclusive financial advisor on the acquisition.
 

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Arena
What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?