Apartment real estate investment trust Colonial Properties Trust said Thursday its first-quarter funds from operations dropped 25 percent on lower gains from property sales, but still beat Wall Street's estimates.

Failed finance companies and the slump in business confidence are forcing some of New Zealand's wealthiest people into mortgagee sales. Real estate agents and commentators have noticed more million-dollar-plus properties being sold at bargain prices.

June 13 (Bloomberg) -- Club Mediterranee SA , Europe's largest resort operator, reported a first-half loss after spending more money to improve its properties and paying the bulk of its yearly rental costs at the beginning of the year.

Chandler officials are moving forward with plans to spend up to $12 million to buy a prime parcel of real estate in the city so it can be held for private development.

Franklin Street Properties Corp. (AMEX: FSP), an investment firm specializing in real estate, announced today that it has closed on a $75 million unsecured term loan facility with RBS Citizens, N.A., Bank of America, N.A. and Wachovia Bank, N.A. The term