BROOKLYN, NY-A $40.5-million mortgage loan fuels the first phase of the $2.5-billion, 7.7-million-sf Atlantic Yards redevelopment here. A key portion of the effort includes an arena for the New Jersey Nets basketball team.

BOSTON-The locally based REIT takes 16 triple-net leased properties totaling 2.5 million sf for $91.6 million.

NEW YORK CITY-A 245,000-sf luxury mixed-use residential development receives $107 million in construction financing. The amount will cover the total construction costs of the 28-story residence.

NEW YORK CITY-Locally based Prescott Group is partnering with the Getty Family Trust in an effort to target more than $400 million in real estate assets over the next year.

NEW YORK CITY-In another large Lower Manhattan transaction, American Express inks a new 18-year for 155,000 sf at Three World Financial.

MELVILLE, NY-According to an SEC filing, Donald J. Rechler resigns from the Reckson Associates Realty Corp. board of directors. This comes one year after he stepped down as co-CEO as part of the firm's restructuring process.

GLENDALE, NY-Regal Cinemas will be the entertainment anchor for the Shops at Atlas Park. The lifestyle center is expected to open in the spring of 2006.

NEW YORK CITY-Anthony Westreich completes a buyout of Max Capital and forms Monday Properties. The new entity will focus on the eastern seaboard with a particular emphasis on properties here and in Washington, DC.