DALLAS-With two residential and retail buildings nearing a construction start, the Hillwood team ends a year of talks with a local boutique operator to open a 20,000-sf, bi-level shop with a runway, made-to-order "closets" and designers' wholesale showrooms.

DALLAS-The hotelier's chairman and CEO says the "right-sizing" plan is simply the next step for the transition into an operating company with a select portfolio. Five top execs will head out the door by year's end in step with Wyndham's disposition close-out.

FORT WORTH-As planned, the 1031 Exchange gets satisfied with a second buy in less than a week. The Gilroy, CA buyer assumes a near $1.7-million loan to take title to the 116-unit Sierra Trails, with upside in a 15% vacancy.

DALLAS-Shafer Property Co. bundles properties in Dallas, Sherman, TX and Durango, CO for a $10.8-million loan with a 10-year term, which includes co-terminus mezz financing. The complex deal takes four months, but retires three loans when it's done.

HOUSTON-A private investor from Calgary, Canada, uses 1031 Exchange gain from a San Diego retail sale to buy Langham Creek Shopping Center. Developer Option One Realty stays in charge of leasing and management for the new northwest submarket asset.

TERRELL, TX-Fulton Anderson Realty Advisors buys 16.8 acres and places dibs on 35 more primed for retail, restaurant and hotel development with a 500,000-sf build-out potential along Interstate 20. If the project stays on track, ground could break in 2005.

AUSTIN-As part of a three-year plan to add 185 locations, the Costa Mesa, CA chain will open 40 more stores in Texas.

AUSTIN-As part of a three-year plan to add 185 locations, the Costa Mesa, CA chain will open 40 more stores in Texas.