COLUMBIA, MD-The REIT bought five office buildings totaling 314,594 sf, which are 98% leased. The purchase means Corporate Office Properties Trust now owns 55 buildings in the Baltimore-Washington corridor.

HOUSTON-It's official: Hilton will be managing Houston's Convention Center Hotel. A 15-year contract has been signed for the 1,200-room facility, which breaks ground in the summer. Delivery is set for late 2003.

AUSTIN-The popular Alamo Drafthouse has signed a 10-year lease for its second theater location. Come late June, the owners will launch a second venue in the 17,000-sf Village Cinema in north Austin. First runs will continue.

CHICAGO-Despite vaults of available capital, lenders are taking cautious approaches to deals, members of the Real Estate Investment Association are told at the annual capital and finance market update.