ORLANDO-The publicly traded, Washington, DC-based developer, through a joint venture, pays $39.5 million, or $108,516 per unit, for a newly constructed 364-unit multifamily property. The firm is preparing to close two other deals, officials tell GlobeSt.com.

HOUSTON-A Houston investment group acquires the Ponderosa Apartments and Heights Terrace from a Newton, MA owner as both sides work 1031 Exchanges. About $15,000 per unit will go into upgrades so the rent can jump.

SANTA CLARA, CA-Both Greg Davies and co-owner partner Dennis Chambers will continue providing strategic direction for the firm, which they affiliated with in 1981 and owned outright by 1992.

TUCSON-An unsolicited offer from a Phoenix investment group convinces the local owner of the grocery-anchored, fully leased shopping center to part with 25,741 sf of shadow retail space along Golf Links Road.