SEATTLE—Equity Residential has proposed an apartment high-rise with 400 apartment units, plus ground-floor commercial.

DENVER—Chicago-based pension fund advisor sets a record high price per-foot for the 337-apartment complex.

LOS ANGELES—Investment Real Estate Associates has closed the sale of the 9-unit Westgate Apartments, for $1.8M. Westgate consists of a classic 9-unit apartment building built primarily in 1956.

AUSTIN, TX—Summit Hotel Properties Inc. has acquired three hotels this week from affiliates of the Hyatt hotel brand. Properties are in Orlando and Chicago.

TEMPE, AZ—City officials plan to partner with a large, publicly-traded real estate firm to commercially develop 100 acres of city-owned land. The development would take place over the next decade.

DALLAS—Red River Asset Management LLC, of New York has purchased the four-story 239,000-square-foot office building near North Central Expressway. The buyer bought the property for $15.4 million from Oaktree Capital.

Funding is to complete phase II of master development, to include 260 units.

RANCHO DOMINGUEZ, CA—Jones Lang LaSalle represented Sims Recycling Solutions in a lease renewal for industrial space on South Rancho Way. Sims will continue to occupy the space for its regional office.