HOUSTON-The five-year owner of the 92,491-sf Prosperity Bank Plaza reworks $5.32 million in financing to help reduce the interest rate and payments. The new package, representing a 75% LTV, is sealed with a six-year term and 5.73% fixed-rate interest.

MESA, AZ-Parkway Properties gets control of the five-year-old, 100%-leased Mesa Corporate Center for $20.5 million from Opus West Corp., which turns over the deed to a class A office building with no near-term roll in its leases.

THE WOODLANDS, TX-The Santa Ana, CA-based investment group parts with the 85%-leased office building after owning it slightly more than a year. The deed to the five-story building, assessed at $6.45 million, goes to a local partnership.

THE WOODLANDS, TX-The Santa Ana, CA-based investment group parts with the 85%-leased office building after owning it slightly more than a year. The deed to the five-story building, assessed at $6.45 million, goes to a local partnership.

PHOENIX-A limited partnership from nearby Glendale takes the reins to the 24-year-old complex from a Woodland Hills, CA investment group. The new owner pays $57,079 per unit and plans to pump up another $12,000 to $15,000 per apartment into the conversion.

TROY, MI-In the wake of the Kmart-Sears merger, Kmart's 40-acre headquarters property, acquired by Washington, DC's Madison Marquette, will undergo renovation into a mixed-use complex to include residential, retail and office facilities.

TROY, MI-In the wake of the Kmart-Sears merger, Kmart's 40-acre headquarters property, acquired by Washington, DC's Madison Marquette, will undergo renovation into a mixed-use complex to include residential, retail and office facilities.

CHANDLER, AZ-In its second groundbreaking of 2005, the joint venture of NDC Capital Partners and P.B. Bell Cos. begins construction on Chuparosas Apartments, a 258-unit, $27-million multifamily complex. The property is slated for completion within the next year and a half.