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PALM BEACH GARDENS, FL-A newly formed subsidiary of locally based Correctional Properties Trust is using the proceeds to finance the acquisition and refinancing of two North Carolina prisons. Palm Beach Gardens is 73 miles north of Miami.

PHOENIX-Insignia/ESG has named Michael White to the post of senior managing director of its office property group. White had been Insignia's top producer last year. New to the staff is Stephan Mariani, who will be a property services director.

CHICAGO-An extensive renovation of the lobby of Healthcare Information Management Systems Society's headquarters at 230 E. Ohio St. helps cut the building's vacancy rate from 32% to 1%.

MOUNT CLEMENS, MI-DMJ Tech will forge power train assembly equipment at the site for the automotive industry. Industrial development revenue bonds make the deal possible for MIKDEN Holdings.

ORLANDO-F. Phillip Handy, a former vice president at New York stock brokerage Donaldson, Lufkin & Jenrette Co. and longtime commercial real estate investor, is chairing the state's first Board of Education.

ATLANTIC CITY-Less than two months after buying this city's first casino property, Colony Capital has unveiled plans for a 500-room, 30-story tower, with another phase not far behind.

LONDON-The best residential property in central London is taking longer to sell according to a report from Mayfair agency Lane Fox. A startling number of viewings are required before many properties find a buyer.

ORLANDO-Tom Starnes is senior vice president, sales and marketing. He is a former executive at Frito Lay and U.S. Office Products, both Fortune 500 companies. Hughes also hires John Steele, a former distribution specialist at Atlanta-based Genuine Parts Co.