MIAMI-BAP-GGM Developers, currently selling the $42-million, 28-story waterfront condominium project Onyx, have decided to develop another tower with 122 units two blocks down the street. The first tower is set to break ground in June, while Onyx 2 has a January ground-breaking planned.

NORTH MIAMI BEACH, FL-The 3.875% senior unsecured notes are due April 15, 2009, and were priced at 99.875% to yield 3.902% to maturity. The shopping center REIT also swapped $100 million of the notes. Net proceeds are to be used to repay debt and for general corporate purposes.

FORT LAUDERDALE, FL-Azur International's Place des Arts will consist of 10 luxury waterfront condominiums ranging from 3,500 sf to 4,400 sf, including a boat slip, and will cost between $1.4 million and $1.6 million.

CORAL GABLES, FL-Private investor Yife Tien paid $180,000 per unit for the five-unit property here. The seller was the trust for Martha L. Sonnenfeld. Broker Ken Morris called the buy an "excellent investment opportunity.

PEMBROKE PINES, FL-Currently, the principals are offering the space to existing tenants, three of which have committed and a fourth that is near committing. In about two months, unsold space will be offered to the public. The project retail strip condo concept is unique to the area.

MIAMI-Net earnings for the quarter ending Feb. 29 were $28.5 million. A year earlier, the figure was $34.8 million. But the company's CEO does refer to the recent quarterly results as "strong.

MIAMI-The independent insurance agency is taking 22,831 sf of office space at Doral Costa office park here for 10 years, paying about $22.34 per sf. The company plans to locate its corporate headquarters, set to open in July, at this site.

FORT MYERS, FL-DD&R Properties Inc. sold Park Avenue Apartments, located at 2505-2525 Royal Palm Ave. here. Arrowhead Partners Inc. was formed in 2003 by David Martino and James J. Bracey IV.