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ST. PAUL, MN-The Metropolitan Council thinks proposals to cut back public transportation funding at Minnesota Legislature is "out of step" and says concern over affordable housing is the fastest growing problem.

DALLAS-A new IRS ruling is just like the old saying: If it sounds too good to be true, it probably is. Ernst & Young's national director of real estate tax services says it's just for big league players. And, it can't be done just to benefit shareholder value.

HOUSTON-McCoy Workplace Solutions has finalized a $5.5-million sale-leaseback deal for its 140,030-sf headquarters and distribution facility at 565 W. 38th St. The Houston-based operation is now part of a W.P. Carey & Co. REIT portfolio.

PORTLAND-The 17-story, 270,000-sf concrete office tower is named "The Office Building of the Year" locally and regionally in its size category by the Building Owners and Managers Association, but comes up short this week at the nationals in Baltimore.

Great Portland Estates has sold its first apartment at its Ranelagh House development in London, SW3.

LONDON-Helical Bar has forward sold its development at 3 Bunhill Row, London EC1.

HOUSTON-ProLogis Trust is adding three tenants to its northwest Houston industrial roster. The trio is taking 42,258 sf, with Auto Refinish Distributors lining up for the largest spot, 18,598 sf at 448 Garden Oaks.

NEW YORK CITY-According to the Visionary Panel sponsored by the Associated Builders and Owners of Greater New York, the market may not