THE WOODLANDS, TX- Thomas D'Alesandro IV will take on the role of senior vice president with the Chicago-based REIT in May. His role of president and CEO at the Woodlands Development Co. is being split between two Woodlands veterans: Tim Welbes and Alex Sutton.

MESA, AZ-The Polo Club, a 282-unit, class A apartment community, trades hands for nearly $20 million after receiving a dozen offers. The buyer, Certe Group of San Diego, now owns three communities in the Valley.

HOUSTON-The local investor acquires The Reserve at Walnut Creek in Austin, TX for $19.1 million and Alexan Castle Pines in Castle Rock, CO, in suburban Denver for $41.5 million. The two class A multifamily properties total 640 units.

HOUSTON-The local investor acquires The Reserve at Walnut Creek in Austin, TX for $19.1 million and Alexan Castle Pines in Castle Rock, CO, in suburban Denver for $41.5 million. The two class A multifamily properties total 640 units.

MESA, AZ-Phoenix-based S.F.B. Terrace Park Apartments LLC completes a 1031 exchange with the $16.3 million sale of Orange Grove, a 396-unit, class B minus apartment community in east Mesa. The 21-year-old property is a value-add play.

HOUSTON-The Melville, NY-based electronics distributor decides to keep its regional headquarters at Regency Center, signing a five-year renewal lease for 4,968 sf of class B office space. The new pact keeps the 155,598-sf building at 96% occupancy.

PHOENIX- A Valley investor beats out four other prospective buyers with a full-price offer to claim a 12,519-sf retail strip center. William Perry, who is completing several 1031 exchanges, drops $4.6 million on the 22-year-old center.

PHOENIX- Monte Vista Gardens, an 88-unit, class C apartment complex, sells for $3.2 million to Scott Neumann of Neumann Properties LLC. The San Diego buyer plans to rehab and retenant the 23-year-old property.