BIRMINGHAM, AL-The REIT completes two complex deals, selling majority interests in a pair of Alabama shopping centers. Proceeds from the transactions will be used to pay down the company's revolving line of credit.

BRAZORIA COUNTY, TX-Two more closings take place for tracts in the 22,216-acre Chocolate Bay, a commercial farm for rice production. The investment groups intend to continue rice production, for now. To date, the brokers have sold 12,836 acres.

HOUSTON-One investor acquires 20 acres in Baytown, a city about 28 miles east of Houston's CBD. In the town of Orlando, TX, a San Diego-based shopping center REIT buys 14 acres along Interstate 4.

BURBANK, CA-A private investor buys the building for the warehousing and distribution of textiles, in a move from nearby Glendale to space near the Burbank Media District.