LAS VEGAS-The owner of the Riviera Hotel Casino on the Strip receives and rejects a $27-per-share offer from Riv Acquisition Holdings, which last year offered $17 per share.

SEATTLE-The shareholders of San Ramon, CA-based Summerville, which operates 81 properties, will receives 8.5 million shares of locally based Emeritus Corp., which operates 284 properties.

FEDERAL WAY, WA-Kennedy Wilson Multifamily Management acquires the Heights on West Campus from Nevins, Adams, Lewbel & Schell.

FEDERAL WAY, WA-Kennedy Wilson Multifamily Management acquires the Heights on West Campus from Nevins, Adams, Lewbel & Schell.

LAS VEGAS-The owner of the St. Clair Apartments here obtains a $17-million mortgage loan from Johnson Capital that it uses to consolidate its debt on the property.

SANTA CLARA, CA-The publicly held office and industrial REIT from Glendale pays $39.1 million for a 251,000-sf, low-rise multi-tenant park here called Commerce Campus.

SAN FRANCISCO-A new $400-million real estate venture of AGI Capital, TMG Partners and CalPERS names Paul Nieto its first president.

PORTLAND, OR-The 4.2-million-sf portfolio includes 42 buildings and three development parcels, one Downtown, that could support an additional 550,000 sf of development. The purchase price is approximately $1 billion.