PORTLAND-Schnitzer Investment Corp. sells the 96,266-sf Pacific Gas Transmission building here for $25 million, which is $6 million more than the locally based company paid for the eight-story building just 36 months ago.

TOKYO-Moody's Investor Service upgrades its issuer and long-term debt rating for Japan Real Estate Investment Corp. and Nippon Building Fund Inc.

RENO, NV-The College Park Investments division of newly public military and student housing investor pays $32.5 million for a 216-unit student housing property here that serves the University of Nevada. The purchase follows a $277-million portfolio acquisition that closed earlier this week

EVERETT, WA-With its advisor Waterton Associates, the California State Teachers Retirement System purchases the Crystal Cove Apartments here for $22.7 million.

LOUISVILLE, KY-Rouse Co. closes on its acquisition of Oxmoor Center, a rival 930,000-sf mall here that sits across Interstate 264 from Mall St. Matthews, the company's other mall in the market. In a matter of days, Rouse will become part of General Growth Properties.

SEATTLE-Bascom Northwest Ventures of San Francisco pays Portland, OR-based Harsch Investment Realty $106,268 per unit for the 97% leased, 351-unit high-rise apartment development in the city's First Hill neighborhood, immediately east of Downtown.

DAVIS, CA-The Newport Beach-based investor and developer pays about $4 million for a 59,000-sf business park here that is approximately 65% leased. The company plans about $500,000 in upgrades to the site.

LAS VEGAS-As planned, the first phase of the multi-billion dollar project would include 18 million sf of built space including a 4,000-room casino-hotel, three 400-room boutique hotels, 550,000-sf of retail, dining and entertainment facilities and 1,650 units of for-sale housing.