MIAMI-Karlton Collins LLC purchased the former apartment complex turned office building for $22.4 million from Victor Posner Trust No. 6 and Security Management Corp. The buyers are converting it into condos, for an acquisition and conversion cost of about $45 million.

SUNRISE, FL-The medical manufacturing/supply company is subleasing the 48,606 sf of office space here for the next two years, then plans to take over the lease for another seven years. The deal is valued at about $1 million per year.

MIAMI-Wells Fargo Commercial Mortgage provided the 10-year, fixed-rate, securitized financing for the 83,085-sf, mixed-use center in Delray Beach, FL. Holliday Fenoglio Fowler LP arranged the loan on behalf of The David Associates III Land Trust.

MIAMI-The 54-unit, waterfront condominium complex Space 01 will be built in North Bay Village, FL. Units will range from 1,808 sf to 1,906 sf and will cost between $450,000 and $739,000.

MIAMI-CNV, LLV sold the two parcels here to Amerada Hess Corp. and WKL II and Associates Inc., a Denny's restaurant franchisee. Amerada Hess plans to build a gas, convenience store and fast-food center, and WKL II and Associates plans to build a Denny's.

MIAMI-The development company is refinancing three office buildings totaling 176,567 sf in Palm Beach County, FL. SouthTrust Bank is providing the five-year, adjustable-rate loan in a deal arranged by Holliday Fenoglio Fowler LP.

MIAMI-DSP Developments plans to break ground on the $50 million, 21-story Fantasy on the Ocean in early spring. The tower will contain 198 units that will be rented out as hotel suites when residents are not living there.

MIAMI-The company is the primary lessee of Innkeepers USA Trust, a publicly traded hotel real estate investment trust and upscale hotel owner. The Residence Inns are currently managed by Marriott International Inc.