BALCH SPRINGS, TX-Work has begun on a 30-acre, 296-unit multifamily development. Hall Financial Group kicks in the last of the cash, $2.2 million, for a minimum 12% current return and 18% all-in return.

PHOENIX-Seller Richard Jensen gets about $3.4 million for the Orangetree Apartments in Phoenix and Place of Tempe Apartments. The proceeds go toward the acquisition of a 100-unit complex to satisfy a 1031 Exchange.

PHILADELPHIA-The local chapter of the United Brotherhood of Carpenters and Joiners rejects a recommendation by the Pennsylvania Convention Center Authority to merge six unions that work at the center into three. The move threatens support for the center's expansion.

MONTGOMERY COUNTY, MD-County officials say two new biotech parks covering 155 acres are in the works and should open in 2004. The projects are in the early stages but county and state organizations have already committed $6 million to getting the parks off the ground.