DALLAS-Shafer Property Co. is "good to go" on a 35,000-sf retail project for a key 2.9-acre tract in Uptown after securing a $13.8-million construction loan with an 80% LTV and 40% pre-leasing. Shafer's still weighing whether a neighbor gets one acre for condos.

IRVING, TX-The REIT is planning a Dec. 31 redemption of 9.5% senior notes, using $34.5 million from the second mortgage of seven Embassy Suites, with 1,925 rooms, to meet a 2004 goal to retire the debt.

GRAND PRAIRIE, TX-The new owner of Greenhill Apartments latches onto the promise of a positioning in a growth corridor off Interstate 30 near Lone Star Park. The deed changes hands with a $750,000 loan assumption.

WACO, TX-Kamco Property Co. takes over a college town complex at a substantial discount to the $5.2-million ask. The first move is a new name, then a $700,000 renovation and finally, rent hikes at the 83%-leased complex.

FLOWER MOUND, TX-Dennis Lee, a golf course investor in California and Florida, comes to Texas for the last of two Tour 18 facilities owned by Olympus Real Estate. With a new team in charge, the $12.8-million acquisition is now in line for a major overhaul.

DALLAS-Leading economist Dr. Bernard Weinstein's numbers crunching casts a gloomy shadow over the region, at least for the near term. The short take is 7,056 jobs or $344 million in wages and benefits will be gone along with $143.3 million in property income.

WICHITA FALLS, TX-An investment group from Chicago, with an affinity for college town properties, buys the 93.2%-leased Tiffany Place for close to the $12.3-million ask, getting a foothold near Midwestern University and Sheppard Air Force Base.

IRVING, TX-The 240,000-sf Atrium at Office Center jumps 10% on the occupancy barometer with the back-to-back leases, all new names for the directory. Two tenants are inbound, including one from the Dallas CBD, and two have just turned on the lights.