ATLANTA-The five-year-old multifamily REIT has run the leasing level up to 95% at the 35-acre, 342-unit complex in suburban Alpharetta, north Fulton County.

MIAMI-The legendary Miami developer buys a prime 2.5-acre platted parcel on Biscayne Bay for $16 million or $6.4 million per acre ($146.92 per sf) six months before the seller unloads an adjoining 2.5-acre site for $19 million or $7.6 million per acre ($174.47 per sf).

DENVER-Word on the street is that Denver-based Cherokee Investment Security is the successful bidder for Gates Rubber Co.'s 50 acres near the CBD. Gates isn't saying who just yet, but acknowledges it's talking with just one party. Inside sources insist it's Cherokee.

ORLANDO-Echelon Residential is breaking ground on Echelon at Uptown, a planned five-story, 244-unit complex on north Orange Avenue at Marks Street. Estimated construction cost: $13 million.