MIAMI-Interest rates, cap rates and rental rates are expected to increase this year, and vacancy rates should decrease in a slowly recovering market, according to CB Richard Ellis.

HOLLYWOOD BEACH, FL-The loan is for the $200-million condominium development Ocean Palms, which just began construction here. The financing was arranged by Wachovia. Two South Florida firms--the Plaza Group and Avatar Properties--are developing the three-tier project.

HIALEAH, FL-The land the Kansas City, MO, entertainment REIT acquired is associated with the 77,400-sf Grand Stadium 18-screen theater here. The property sold for almost $103.36 per sf.

WEST PALM BEACH, FL-Related Capital Co. has provided equity financing for the $12.4-million, 99-unit project, called Lakeside Commons. The project will consist of two- and three-bedroom units ranging in size from 953 sf to 1,115 sf.

FORT LAUDERDALE, FL-Dr. Mark Ginsburg purchased the building here and plans to occupy it, a broker says. The foreclosed-on building, which sold for $36.89 per sf, has been vacant for about two years.

FORT LAUDERDALE, FL-SCI Real Estate Investments, with two other tenant-in-common investors, paid about $89,361 per unit to Dr. Mohammed Mazaheri for the 188-unit Forest Park Apartments. The property was 96% occupied at the time of the transaction.

FORT LAUDERDALE, FL-The division of Stiles Corp., based here, also has brought on A. David Lowery, a public-sector construction veteran, to lead the expansion as director of public projects.

NORTH PALM BEACH, FL-Catalfumo Construction LLC finished the 10-story project here in November, and it was ready for occupancy in December. It contains 74,409 sf and four units between 1,639 sf and 2,145 sf per floor. Exceller Inc. is the tower's owner.