IRVINE, CA-The 171,979-sf mixed-use Palm Court development is now under the ownership of Connecticut General Life Insurance. Financial terms of the acquisition were not disclosed officially, but brokers in the area say the transaction is worth about $35 million.

LOS ANGELES-As the threat of rolling blackouts hangs over building owners across the county, a diverse group of investors has committed $50 million to LA-based RealEnergy, a new company that plans to install onsite power systems in commercial properties nationwide.

LOS ANGELES-Private investors have agreed to pay $3.5 million for the Raymond Theater in Old Pasadena. They plan to reopen the abandoned building as a performing arts venue.

NEWPORT BEACH, CA-Edwards Theatres Circuit Inc. has finalized a deal with The Anschutz Corp. and OCM Principal Opportunities Fund II LP that will allow the struggling theater chain to emerge from bankruptcy.

HUNTINGTON BEACH, CA-The AES Corp. has been granted 10-year permits to run two 40-year-old generators that have been idle for six years. The approval has sparked protest from Huntington Beach residents and city officials.

PASADENA, CA-A locally based joint venture partnership has acquired two parcels in Pasadena, in a deal valued at $2.1 million. The partnership plans to build a mixed-use complex on the properties.

ORANGE COUNTY-All three sectors of the regional economy--high-tech, tourism and construction--are expected to slow down in the second and third quarters while construction will continue to give the county an economic boost, according to a recently released economic forecast.

NEWPORT BEACH, CA-Investment banker plans to use new fund to invest in JV equity and mezzanine investments. Separately, it announces loans on several West Coast properties.