DETROIT-A 700,000-sf Downtown Detroit building, 71 years old, is for sale at $7.4

EAST LANSING, MI-The Detroit office of Long Island-based Arbor Commercial Mortgage arranges financing for student apartments near Michigan State University. The 530-unit Dover's Crossing Apartments was financed at a 6.7% interest rate.

SOUTHFIELD, MI-Boykin Lodging Co. of Cleveland spends a budgeted $5.5 million to renovate a 10-story hotel, which has changed from a Hilton Hotels property to a 239-room Embassy Suites following an exchange.

ANN ARBOR, MI-A stockholder of the net-leased restaurant and retail properties REIT claims the company's CEO and board have acted improperly. He urges stockholders to vote against the merger with Commercial Net Lease Realty.

DETROIT-A 700,000-sf Downtown Detroit building, 71 years old, is for sale at $7.4

SOUTHFIELD, MI-Ronnisch Construction Group creates a new, larger Home Depot design in Auburn Hills and is working on retail buildings for a Detroit area school district. A build-out for KPMG also is on the firm's punch list.

ANN ARBOR, MI-The book retailer plans on doubling its current store total of 355 and

FARMINGTON HILLS, MI-The shopping center REIT sees total revenues increase as well, but only 1.7%. Meanwhile, its dividend pay-out ratio is down to 68.7%.