HALF MOON BAY, CA-The Chicago-based publicly traded company signs an agreement to acquire The Ritz-Carlton here overlooking the Pacific Ocean for $124.4 million. The resort's Earnings EBITDA is forecasted to be approximately $8.1 million in 2004 and $10.4 million in 2005.

ESPOO, FINLAND-The supplier of information technology services to Nordic countries sells 465,000 sf of buildings here to two of WP Carey's public-but-not-traded REITs and then leases back the space long-term.

BELLEVUE, WA-The state Office of the Insurance Commissioner approves the $1.35-billion sale of Seattle-based Safeco Corp.'s life insurance and investments business, clearing the way for a lease deal that will move the business unit from Safeco's Redmond campus to Equity Office Property's Rainier Plaza and neighboring Key Center Tower in Downtown Bellevue.

SAN FRANCISCO-The latest report on the local office market found continued signs of recovery during the second three months of the year. Overall citywide vacancy at the end of June stood at 20.5%, down from 21.4% at the end of March.

PORTLAND-On the strength of four straight months of job growth, overall office vacancy here falls from 16.9% to 16.2%, according to the latest report from the local office of Grubb & Ellis.

WINSTON-SALEM, NC-The Atlanta-based office and industrial REIT acquires One West Fourth Street, the newest Downtown office development here for $77.7 million. Wachovia Bank and the law firm Womble, Carlyle, Sandridge & Rice lease a combined 86% of the building under long-term leases.

DARWIN, AUSTRALIA-Auckland-based Skycity Entertainment Group acquires the MGM Grand Australia, a 107-unit hotel and casino here situated on 18 acres of beachfront.

BELLEVUE, WA-A group of local investors acquires the 57-unit Richmond Apartments across from the Crossroads Mall here with plans to upgrade the units and sell them off as condominium units.