FORT LAUDERDALE, FL-The developer-operator of extended-stay lodging facilities is exchanging exchanges $300 million in newly registered securities for unregistered senior subordinated notes.

HOUSTON-The Winrock Houston portfolio, consisting of four multifamily complexes, has been refinanced in a $32.5-million package. GMAC Commercial Mortgage's Houston office has structured the deal with IDS Life Insurance Co.

DALLAS-For the first time since Q1 1998, the retail market in Dallas, Denton and Collin counties sees negative absorption. Blame it on big box closings and the highest amount of completions in nine years. Rent too is down six cents, the first dip since 1996.

ATLANTA-James A. Fleming, a law partner in Fleming & Ray, is the new senior vice president, general counsel and secretary at the locally based REIT. He replaces Tom G. Charlesworth who was promoted to executive vice president and chief investment officer in January of this year.