FORT WORTH-Margaux Development and Granite Properties joint venture on the purchase of the 89,602-sf Alta Mesa Shopping Center and abutting 76,000-sf Kmart. The duo has set aside more than $2 million for the renovation and re-tenanting plan.

FORT WORTH-The deal quietly closed on the last day of the year. Crescent's first leg of a $233-million, three-stage buy delivered 200,000 sf of the 1.1-million-sf Hughes Center in Las Vegas and Rouse spent $387 million for 52.5% of the 27,000-acre Woodlands.

DALLAS-Tony Click exits a principal's post at Trammell Crow Co. for a vice president's seat at Crescent and 25,000 shares of the REIT's common stock. The deal also puts him in charge of the prized 1.1-million-sf Crescent in Uptown.

DALLAS-Libitzky Property Co. of California weeds the field to three and then selects the properties' former broker, now a vice president with the John Bowles Co., to pick up where she left off a few months ago.

DALLAS-Rushmore Properties pays about $12 million for the 130,926-sf Prestonwood Place in North Dallas. The catch is there are just 40 years left on the ground lease, a condition that kept many would-be buyers at bay.

DALLAS-The PW Funding loan, with a Fannie Mae guarantee, marries extra NOI from the 208-unit Gardens of Josey Lane to the 150-unit Gardens of Bedford to get new capital at a much lower interest rate. Once Fannie Mae says "yes," the loan closed in 24 hours.

DALLAS-Powerbroker Philip C. Baker takes over the COO's role Monday after a five-month run as CBRE's executive vice president. Long before the I/ESG merger, the rumor mill was churning that he was working on an exit strategy from the national "Big Top.

COPPELL, TX-Realty Capital Partners buys 8.4 acres from Beal Mortgage at the intersection of Texas 121 and Denton Tap Road for a plan that's still on the drawing board. Five to eight buildings for retail, restaurant, office and medical use are planned.