ATLANTA-Otter Construction & Realty Co. is looking at a 2003 ground-breaking on a 94-unit project in Clarkesville, GA. Atlanta developer Steve Nygren also plans to start his 14-townhome venture--with retail and office--next year near Palmetto, GA.

ORLANDO-Locally based CNL Hospitality Corp. tells GlobeSt.com it has signed a non-binding letter of intent with Hilton to buy another five hotels with a partnership capitalization of $400 million.

ORLANDO-Bayview Financial paid Boston-based John Hancock Life Insurance Co. $65.83 per sf for the 88%-leased shopping center 60 miles southeast of Downtown Orlando.

ATLANTA-In the largest commercial real estate deal of its kind this year in the Southeast, Dallas-based Cardinal Capital Partners Inc. acquires 38 warehouses totaling 5.1 million sf in 26 states. The space will be leased back to Atlanta-based Georgia-Pacific.

ORLANDO-Property manager ResortQuest International of Memphis, TN expects 116 units will be completed by Feb. 1. The entire resort is planned for 1,000 timeshare units.

ATLANTA-In one of the largest industrial leases in the Q4, the Switzerland-based company is taking 20,000 sf in the Duke Realty-developed building at 1735 Founders Pkwy. at Founders Park in north Fulton County. The lease is for 10 years.

ORLANDO-The University of Central Florida's index of private construction intensity in the single and multifamily dwelling market for the first half places Las Vegas in the top spot for the fifth consecutive year. Atlanta was second; Phoenix-Mesa, third.

ATLANTA-A developer consortium of Wayne Mason, Marty Kennedy, Ed deGuardiola and George Lane paid the California Public Employees Retirement System $409,091 per acre for the tract adjacent to the Overlook III office tower in suburban Vinings, GA.