SACRAMENTO-Two days after announcing that its US Core Office Fund paid $287 million for two Downtown San Francisco office buildings totaling 766,000 sf, the Chicago-based company says its US Office Value Added Fund also has acquired Sacramento-area assets, paying $69.5 million for Capital Center II/III, a 10-building, 529,000-sf portfolio of low-rise office space located in Rancho Cordova.

SEATTLE-The Boston-based company's $1-billion Beacon Capital Strategic III fund expects to close on the 536,356-sf Union Bank of California Center in mid-October. Occupancy in the class B office building is in the low 70% range. The purchase price is believed to be somewhere between $90 million and $100 million.

TIBERIUS, ISRAEL-Affiliates of Florida-based Israel Golf Resorts taps Atlanta-based West Places Hotel Group for pre-development consulting and long-term management of Arbel by the Sea Resort & Golf Club, a planned 500-acre resort that will overlook the most famous body of water in the world.

LAFAYETTE, CA-The publicly traded office and industrial REIT says its board of directors will consider strategic alternatives that include "the potential sale or merger of the company" and "selling certain of the company's properties.

PORTLAND-The cutbacks--in the administrative, marine and property development services departments--follow decisions by two container shipping lines to cancel their calls, resulting in a $12.4 million operating loss for the port.

SAN FRANCISCO-The locally based firm closes its second real estate fund dedicated to acquiring interests in real estate funds, partnerships and properties on a secondary basis from institutional and private investors.

SEATTLE-The $37-million development in the city's Cascade neighborhood will consist of two low-rise buildings containing 180 residential units, 165,000 sf of office space and 28,000 sf of retail.

BEND, OR-On the heels of signing long-term leases with Best Buy, PETsMART and Bed, Bath & Beyond, Mountain View Mall redeveloper SIMA Corp. has landed Cost Plus World Market, for which it will construct an 18,200-sf building that will be surrounded by some 62,000 sf of new shop space. Existing tenants include JCPenney, GI Joe's, Food 4 Less and Ross Dress for Less.