Local home sales weren't the only area of decline in 2007.

Sales of commercial properties fell in Dallas and Tarrant counties, according to a research by Addison-based Roddy Information Service.

Most of the declines were in land sales and miscellaneous buildings.

But sales of both office buildings and apartment properties were down in Dallas County. The 2007 declines follow record sales the year before.

"The commercial market has been holding its own so far," said analyst George Roddy. "So far, so good."

And while the housing market is hit with record foreclosures, commercial property loan defaults have remained low.

Only 50 commercial properties were sold at foreclosure last year in Dallas County – a drop of 18 percent from 2006.

In Tarrant County, there were 54 commercial foreclosures. That's up 4 percent for the year.

"So far, most of the foreclosures have been lower-priced properties and junk," Mr. Roddy said. "But we are starting to see signs of more commercial foreclosures."

A Los Angeles investor has purchased a Far North Dallas apartment community.

SCI Real Estate Investments has acquired the 207-unit Estancia Townhomes on Prestonwood Boulevard just north of Belt Line Road. Terms of the sale weren't disclosed.

The luxury residential development was built by Florida-based ZOM Inc. and opened in late 2004.

The rental townhouse project was constructed on part of the site of the old Prestonwood Mall.

ZOM is currently building a larger apartment community on Skillman Street east of North Central Expressway in Dallas.

A German investor has purchased a Frisco shopping center. Holliday Fenoglio Fowler LP said Thursday that it has completed the sale of the Shops at Preston Ridge, a 59,973-square-foot retail center near Stonebriar Centre mall.

The year-old shopping center at 8008 State Highway 121 was sold by Dallas' Oakridge Investments to a German investment fund advised by Phoenix Property Co. Terms of the sale were not disclosed.

Tenants in the Shops at Preston Ridge include Eurway, Brides by Demetrios, La Madeleine, Mattress Giant and Paciugo.

GE Real Estate has made a $25.3 million loan on a North Dallas office building.

The RM Crowe Co. used the money to refinance its 8235 Douglas office tower in Preston Center.

The 13-story, 162,112-square-foot office building was built in 1980.