AURORA, CO-Jeffrey H. Schwartz becomes chief executive officer, replacing K. Dane Brooksher; while Walter C. Rakowich is president and chief operating officer. Irving F. Lyons steps down as chief investment officer.

DENVER-The Philadelphia office of GMAC Commercial Corp. provides the loans for 1,352 multifamily rental units in Little Rock, AR; Dallas; Indianapolis; and Raleigh, NC.

DENVER-If the so-called "Christmas rally," continues in the stock market, Archstone-Smith conceivably could make more than the $25 million of eBay common stock from the sale of its share of the website.

DENVER-RE/MAX International founder Dave Liniger and associates will build a 250,000-sf headquarters at the northwest corner of Belleview Avenue and Interstate 25, the northern entrance to the Tech Center.

DENVER-Cohen Capital Corp. and Jim Frank pay $137 per sf for the center at Interstate 25 and Broadway, south of the 260,000-sf the Collection retail center and 235,000-sf Design Center, which they already own.

WESTMINSTER, CO-A 142,300-sf retail center at the northeast corner of West 120th Avenue and Federal will include a 20,000-sf bank as well as a smaller storefront for a high-end grocer.

DENVER-Long-time CB Richard Ellis broker Mark Ballenger joins the local Grubb & Ellis office as executive vice president while Tim Harrington focuses on business development.

Westminster, CO–Forest City will break ground on the 1.3 million-sf Orchard at Westminster as it builds two other big centers in the area.