TEMPE, AZ-A private investor has purchased a Tempe apartment complex for $11.8 million, which equates to more than $48,000 per unit.

PORTLAND-The 12.25-acre property, valued at $22 million, includes a 139,000-sf administration building, a 51,000-sf truck shop, three fourplex apartment buildings and a house. The seller is Consolidated Freightways, from which CNF spun off in December 1996.

HOUSTON-Stage Stores should emerge from a Chapter 11 in the summer, says a court-appointed disposition agent. Part of the restructuring calls for property dispositions, of which eight leases yesterday fetched $2.1 million.

SEATTLE, WA-With national cinema chains heading to bankruptcy court and closing up less profitible theaters, theater building owners are busy wondering what to do in the event their buildings go quiet.