JERSEY CITY-Closed for three years because of a fire, the 150-key former Quality Inn will be redeveloped as an upscale hostelry targeting business travelers.

GREATER BOSTON-Cushman & Wakefield releases its third quarter statistics and all the numbers point to a market that hasn't yet recovered but is beginning to stabilize. Vacancy rates are still high but have not changed significantly from the previous quarter.

ATLANTA-Alpharetta, GA-based Bank of North Georgia provides the locally based community hospital operator a construction loan with interest at prime plus 1% a year and a 20-year mortgage loan at the same rate for the 68,000-sf hospital in Jasper, GA.

PHOENIX-Denver investor Cal Zeff acquires his second multifamily complex in Phoenix. The Palm Aire apartments undersell the market average by about $10,000 per unit. Resale, in turn, should net a tidy profit, the broker says.