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MINNEAPOLIS- The Albuquerque real estate and construction firm is transforming itself into a financial services firm through its purchase of locally-based Equity Securities Investments.

GAITHERSBURG, MD-Through its operating partnership, Saul Centers paid $4.2 million, or about $140 per sf, to its affiliate company, B.F. Saul, for a 30,000-sf office/flex building next to the Avenel Business Park.

IRVING, TX-More than 1.8-million sf of Texas industrial and office space in 17 properties are being sold to fund a merger between Developers Diversified Realty and American Industrial Properties.

DENVER-Four firms, three local and one from Pittsburgh, have jumpstarted a list of would-be financiers, builders and possibly operators of a 23-mile route for a proposed Air Train.

CHARLOTTE-George Shield and partner Bob Bruner are contracting to buy eight acres from Pulte Corp. for an estimated $6.4 million or about $800,000 per acre ($18.37 per sf), a high number for a retail development.

LOS ANGELES-The city's Community Redevelopment Agency approves additional funds for North Hollywood project. Some say it's key to the area's fledgling renaissance, but critics call it a waste of taxpayer money.

BOSTON-Torto Wheaton Research reports that it sees very little risk in commercial real estate markets. This is in contrast to the FDICs 'reports that listed 13 cities as at risk markets.

NORWALK, CT-The owner of the Shore Pointe office building and adjoining marina reports that it has sold the Norwalk-based waterfront property to Butera Properties of Frederick, MD for $9 million.