Miami

FORT MYERS, FL-The Florida Forever Acquisition and Restoration Council has recommended the state purchase 10,000 acres of the Babcock Ranch and place another 34,000 acres under an environmental easement that would prevent future development. In return, the Babcock family would be allowed to develop 20,000 acres. Gov. Jeb Bush and the Florida Cabinet rule on the plan Jan. 29.

MIAMI BEACH, FL-Condominium owners relinquished title to individual units in the six-story, 50,000-sf property in exchange for an equity stake, clearing the way for a Dec. 19 auction.

BOCA RATON, FL-The real estate investment trust reports the weighted average gross rental rate on new leases signed increased $12.39 per sf over the second quarter.

MIAMI-The nation's second-largest homebuilder intends to occasionally issue the new securities primarily for acquisitions purposes.

ORLANDO-The U.S. Occupational Safety and Health Administration opened a formal investigation today in the death of a 36-year-old construction worker whose harness broke as he was working on a rooftop scaffold, 60 feet above the Orange County Convention Center's floor.

LAKELAND, FL-The 187-unit multifamily Angler's Cove Manufactured Community received $2.85 million and the 153-unit Angler's Cove West Manufactured Community obtained $2.35 million in separate refinancings brokered by Collateral Mortgage Capital of Birmingham, AL. Lakeland is 40 miles south of Downtown Orlando.

PALM BEACH GARDENS, FL-A newly formed subsidiary of locally based Correctional Properties Trust is using the proceeds to finance the acquisition and refinancing of two North Carolina prisons. Palm Beach Gardens is 73 miles north of Miami.

MIAMI-The locally based real estate investment, finance and management company reports a 15% increase in second-quarter earnings per share.