CHICAGO-A deal between Trizec Properties Inc. and first-mortgage holder Metropolitan Life could happen "over the next month or two," says CEO Timothy H. Callahan in his REIT's earnings conference call.

CHICAGO-A new $20.8-million mortgage is placed on 225-bed Meadowbrook Manor of Bolingbrook while a $16.32-million loan refinances the 298-bed Meadowbrook Manor in Naperville. Both are 35-year HUD Section 232 deals arranged by Cambridge Realty Capital Cos.

CHICAGO-Shareholders could receive most of the $3.55 million Heartland Partners, L.P. has agreed to accept from the city of Milwaukee for a 150-acre site in the Menomonee Valley.

CHICAGO-At least one offer, for 59% of the Westin Hotels Limited Partnership units, places the value of the 774-room property at nearly $75 million. Starwood Hotels & Resorts Worldwide Inc. says it would attempt to acquire all 135,600-partnership units.

VERNON HILLS, IL-AMLI Residential reveals its 294-unit multifamily project here is likely to be financed by its joint venture partner, Northwestern Mutual Life, which has committed to a $37-million, 10-year construction loan at 7.25%.

CHICAGO-Whether it is the beginning of a trend remains to be seen, but AMLI Residential president Allan J. Sweet has seen some highly-leveraged bidders sent to the sidelines in the wake of the recent spurt in mortgage rates.

MOUNT PROSPECT, IL-Chicago-based Franklin/JDI Central LLC paid $18.2 million for the building on 41 acres at 1800 Central Ave. last summer. A joint venture of Wilton, CT-based Commonfund Realty Inc. and Golub & Co. buys it 35% occupied.

CHICAGO-Sales across General Growth Properties Inc.'s 124-million-sf portfolio dipped slightly to $352 per sf in the second quarter, while new leases and renewals averaged $36.20 per sf, up 3% from the same period a year ago.