BOCA RATON, FL-The locally based developer of a mixed-used residential community in Shanghai scraps plans for a similar project with a commercial component in Beijing.

ST. LUCIE WEST, FL-Belmont at St. Lucie West paid Fountains of St. Lucie West Ltd. $3.55 million or $2.48 per sf for the 32.9-acre site southeast of Interstate 95 and St. Lucie West Boulevard. The property is zoned for a 444-unit multifamily rental community.

MIAMI BEACH, FL-An affiliate of Thomas Bernhard Kramer fails to win approval for a proposed commercial-intensive, mixed-use project on a 3.4-acre waterfront site at the southern tip of this oceanfront community.

CORAL GABLES, FL-The public-private Spanish satellite system has signed a long-term lease at the 350,000-sf building with a total estimated value of $2.5 million.

MIAMI-Joseph B. Schrage in Miami and Stephen S. Corzette and John P. Collins in Boca Raton are new senior vice presidents at GMAC Commercial Mortgage.

MIAMI-Assets of the office development, leasing and management company include a 235,979-sf office building on a 1.45-acre parcel at 4750 Biscayne Blvd.

MIAMI-An elected official argues the Air Force should give the county 1,800 acres of surplus property at the abandoned Homestead Air Force Base, considering the impact of the Sept. 11 national tragedy on the Miami-Dade economy.

BONITA SPRINGS, FL-The locally based developer of luxury single-family and multifamily communities does not expect to meet a forecasted 10% to 15% increase in EBITDA partly because the Sept. 11 national tragedy had a negative impact on sales traffic. Bonita Springs is 134 miles west of Miami.