HOUSTON-JMB Realty waits until the 11th hour to exercise a purchase option for the majority stake of First City Tower. JMB had to pay $29 million in equity, assume $80 million in debt and cover costs to sever the contract with Parkway Properties.

HOUSTON-The snack food giant makes plans for the future by buying a tract in the 28-acre Beltway North Industrial Park, where the five-acre balance remains under guard by owners who want to raise some spec product.

BETHESDA, MD-PNC MultiFamily Capital makes a move to get in on the Washington, DC area's thriving apartment market by establishing a new office to serve the area. Susana Araoz will head-up the new location.