Multifamily

DENVER-The Genesis Group reports that as apartment vacancies rise, conversion to condominium may be an attractive alternative for owners/investors.

LOS ANGELES-The sale of the 363-unit complex is one of two deals totaling $87 million that close in the Southland.

ATLANTA-James Creek, a planned 939-home project by PEC Development Group of Cobb County, is scheduled to have 15 acres of commercial space, 300 townhomes and 639 single-family residences on a 343-acre site between GA 20 and Old Atlanta Road. A fall groundbreaking is scheduled.

REDMOND, WA-The Northwest office of the Phoenix-based multifamily operation manages approximately 1,700 units in six apartment communities in the Northwest and is looking to grow its presence.

METROPOLITAN WASHINGTON, DC-Multifamily lender Independence Community Bank Corp. has made plans to expand its presence to the prospering Washington, DC region real estate market.

DETROIT-The former Kmart predecessor's office building is getting a $17 million fix-up to turn the 85-year-old Adams Street office building into multifamily

LONDON-Construction is about to begin an a residential and retail development of the Millwall Fire Station site in Byng Street, Docklands. The project will also create a new fire station to serve the Isle of Dogs area.

MIAMI-The facilities include a $712.3 million, five-year revolving credit facility to mature in May 2008, and a $315.2 million, 364-day revolving credit facility to mature next May.