PHOENIX-The 45-unit Tamarack Shadows Apartments drives 1031 exchanges on both sides of the fence. The class C-plus complex is situated in East Central Phoenix, less than two miles from the upscale Camelback Corridor.

BIRMINGHAM-A 33,000-sf office building at 20-25 Lionel Street, Birmingham, formerly the headquarters of the Severn Trent water company, is set to be tarted up, extended to 41,000 sf and renamed 'Aqua'.

ORLANDO-The 20-year-old locally based builder sold 31 units at an average $250,000 for an estimated monthly volume of $7.75 million, compared with 17 units for an estimated aggregate total of $4.25 million in January 2001.

WASHINGTON, DC-The Coalition to Insure Against Terrorism is formed as real estate groups and other industry players come together to battle the lack of terrorism insurance availability for commercial property owners.