ATLANTA-Otter Construction & Realty Co. is looking at a 2003 ground-breaking on a 94-unit project in Clarkesville, GA. Atlanta developer Steve Nygren also plans to start his 14-townhome venture--with retail and office--next year near Palmetto, GA.

ORLANDO-Locally based CNL Hospitality Corp. tells GlobeSt.com it has signed a non-binding letter of intent with Hilton to buy another five hotels with a partnership capitalization of $400 million.

ORLANDO-Bayview Financial paid Boston-based John Hancock Life Insurance Co. $65.83 per sf for the 88%-leased shopping center 60 miles southeast of Downtown Orlando.

ORLANDO-Property manager ResortQuest International of Memphis, TN expects 116 units will be completed by Feb. 1. The entire resort is planned for 1,000 timeshare units.

ATLANTA-In one of the largest industrial leases in the Q4, the Switzerland-based company is taking 20,000 sf in the Duke Realty-developed building at 1735 Founders Pkwy. at Founders Park in north Fulton County. The lease is for 10 years.

ATLANTA-In the largest commercial real estate deal of its kind this year in the Southeast, Dallas-based Cardinal Capital Partners Inc. acquires 38 warehouses totaling 5.1 million sf in 26 states. The space will be leased back to Atlanta-based Georgia-Pacific.

ATLANTA-A developer consortium of Wayne Mason, Marty Kennedy, Ed deGuardiola and George Lane paid the California Public Employees Retirement System $409,091 per acre for the tract adjacent to the Overlook III office tower in suburban Vinings, GA.

ATLANTA-The senior vice president will continue to work with the locally based developer as a consultant on certain projects. In his 14-year career with the company, Overton participated in numerous signature developments across the country.