BIRMINGHAM, AL-Inkana Development, a national medical office builder, sells the 448,000-sf Medical Center East for about $200 per sf.

PHOENIX-Voit Development Co., a 12-year player in the metro, will turn up the heat on investments after its 48% gain from a 293-acre sale.

As the final quarter gets under way, lenders continue to compete on projects in almost every category, the Real Estate Capital Institute reports. "There has been an insatiable demand for all types of debt, including first, mezzanine and participating loans while commercial real estate markets continue growth and expansion," notes RECI research director Nat Zvislo. The commercial activity is compensating for the slowdown in housing markets, he says.

Industry experts have differing views on the effects of declining cap rates on the sale prices of office properties in many metro markets. According to an informal poll by Debt & Equity Journal, both cap rates and sale prices can vary widely within the same market because of factors like location and property condition. In general, lower cap rates lead to higher sale prices. However, brokers say there are other issues to consider.

TAMPA, FL-In a second unrelated multifamily transaction, Blue Rock Partners LLC pays the Realty Associates Fund IV $24.65 million for the 320-unit Polos at Brandon apartments in Riverview.

ARLINGTON, TX-The 15,000-sf to 30,000-sf stand-alone structures attract small businesses that can't afford the larger community centers.

FORT LAUDERDALE, FL-Thomas Crocker, who once owned a prime 1.5-acre, office-zoned Downtown site here, re-purchases the dirt from Camden Property Trust for $14.9 million or about $228 per sf.

ATLANTA-Portman forms a JV to develop a $105-million mixed-use project in Shanghai; closes a $150-million apartment deal in India; and commits to a 151-story tower in Korea.