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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Irving-based La Quinta raises about $651M from IPO

IRVING, Texas (AP) — Hotel operator La Quinta Holdings Inc. has raised approximately $651 million from an initial public offering of its common stock.

The IPO of about 38.3 million shares is above the 37.2 million shares initially expected, according to a regulatory filing.

The offering priced at $17 per share, which was below the projected price range of $18 to $21 per share.

La Quinta is giving the underwriters a 30-day option to buy up to an additional 5.7 million shares.

The Irving, Texas, company expects about $618 million in net proceeds from the offering. That's before the underwriters exercise their overallotment option and prior to taking out estimated offering expenses. But it's after deducting underwriting discounts and commissions.

La Quinta anticipates using the offering's net proceeds, coupled with available cash and net proceeds from a senior secured term loan facility of its subsidiary, to pay back outstanding debt. Any remaining proceeds will be used for general corporate purposes.

The company began in 1968 in San Antonio, Texas. It was a public company for more than 30 years, before being acquired by private equity firm The Blackstone Group LP in 2006.

La Quinta runs select-service hotels, which typically have fewer amenities than full-service hotels. It had 834 hotels at the end of 2013.

The shares are expected to start trading on the New York Stock Exchange on Wednesday under the "LQ" ticker symbol.

The offering is targeted to close on Monday.

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