HOUSTON-Bayou City developers will break ground on one million sf of spec industrial inventory in 2005, a 50% increase compared to this year, ending several years of build-to-suit mania and developer conservatism.

CHANDLER, AZ-A southern California partnership takespossession of a 256-unit, class B apartment community for $13.7 million, allowing the northern California seller to exit the market after three years of ownership.

PEORIA, AZ-A 1031 exchange buyer from southernCalifornia makes its first acquisition in Arizona,a 100-unit, class B apartment complex in suburban Phoenix.

HOUSTON-The office market continues to improve in theBayou City with positive absorption and decliningvacancy rates. Next year, concession packages willburn off and effective rental rates will increase 5%.

DALLAS-The locally based REIT agrees to acquire a 21-property, 4,094-room hotel portfolio for $250 million. The acquisition, which is expected to close by February 2005, will be funded by private placement of up to $75 million in cumulative convertiblepreferred stock with Security Capital Preferred Growth Inc.

HOUSTON-American Campus Communities breaks ground on the second phase of Cullen Oaks, bringing another 174 student housing units to the university campus. The 150,000-sf building and two-story parking garage will deliver in August.

PHOENIX-Pushing to sell before year's end, the Trump Group turns over the 189,644-sf, class A office building to a local partnership. The seller of the Camelback Corridor prize finances the off-market deal with a note secured by the deed of trust.

DALLAS-Merriman Associates is ready to push full throttle on the redevelopment of the historic Interurban Building into a class A high-rise with 134 lofts. Malone Mortgage antes up $18.2 million in construction and perm money to go along with city funding.