HOUSTON-A nine-to-one vote by Compaq shareholders advances the merger plan with Hewlett-Packard. GlobeSt.com has learned HP intends to house engineering and product development on Compaq's 1,000-acre campus in Houston.

PHOENIX-Roughly 1.5 million sf of office product was absorbed in 2001 to keep the metro market moving, but just at a considerably slower pace. The reasons are the same as elsewhere in the nation as brokers scramble for business until the economy turns around.

SUGAR LAND, TX-Atlanta's Regent Partners is co-developer and mezzanine lender for the 300-room hotel and conference center. Additional equity comes from Stormont Hospitality and Crestline Capital as well as the City of Sugar Land.

HOUSTON-Dr. Barton Smith, the region's favorite forecaster, says exercise caution in interpreting reports about how bad 2001 was and how good 2002 could end up. His analysis says it will be 2003 before it gets much brighter.

PHOENIX-A Phoenix couple sells its second multifamily holding this year in another 1031 exchange. The 94%-occupied Sun Ray apartments, built in 1984, goes to a private investor from Phoenix.

SOMERTON, AZ-Summit Builders of Phoenix is lining up its crew for an 87,963-sf project in Somerton, where the Cocopah Indian Tribe has carved out a tract for a new casino. The project delivers in fall 2003.

LAS VEGAS-Higher-than-norm vacancy and rent concessions aren't scaring off investors in Vegas' multifamily market. The 296-unit Lake Sahara brings close to its asking price while another property is under contract for more than the seller sought.

LAS VEGAS-The high-ticket loan refinances existing debt and provides a capital pool for upgrades to the 48-year-old Castaways Hotel Casino on the outskirts of Las Vegas. The 25-acre holding uses local mortgage broker, Vestin, to structure the deal.