AUSTIN-GE Capital Real Estate puts up the money in a 10-year package with 5.4% interest and 30-year amortization. The 138-unit, 99%-occupied Stoneridge Apartments in the south submarket act as collateral for the loan.

GREENWICH, CT-Retail REIT Urstadt Biddle Properties Inc. reports it has signed contracts to acquire three shopping centers in the northern suburbs of New York City. The deals will add 260,000 sf of retail space to the firm's suburban portfolio.

MIAMI-Cummings Leasing paid Nortrax Corp. of Moline, IL a premium $975,000 or $84.78 per sf for the 11,500-sf Nortrax Building on a three-acre site and plans to spend another $300,000 upgrading the property in Pompano Beach, FL.

HOUSTON-Construction begins by month's end on razing the closed Steak & Ale and building a shopping center on the one acre-plus tract at Baybrook Mall. Leases are in the works that would fill Baybrook Collection before opening day.