In this work, we investigate the problem of jointly determining the optimal transmission scheme at the base stations in a cooperative multiuser multiple antenna system. In this optimization problem, different than majority of other works in the literature, we consider the case where there are individual performance targets for the users and per antenna power constraints at the base stations. In an earlier work, we presented an iterative algorithm that computes the solution of this optimization problem. However since the proposed algorithm has a centralized structure, it can not be implemented in a fully distributed nature. Nevertheless by utilizing a simple approximation, we propose a suboptimal algorithm that can be implemented with local and limited information exchange between base stations.