SAN FRANCISCO-Triple Net Properties, a Santa Ana-based tenant-in-common syndicate acquires the 418,668-sf Hawthorne Plaza in the South of Market sub market here from Philadelphia-based ITW Mortgage Investments Corp., which took control of the property following a loan default.

WILMINGTON, NC-Locally based Zimmer Development Co. and former Brody's Department Stores owner HJ Brody retain an investment bank to source a 10-year fixed-rate financing to pay off their construction loan for the 59-acre, 401,000-sf retail center.

TACOMA, WA-The City of Tacoma narrows its list of finalists from six to three and sets a mid-June date for the final selection. The list includes acting director Martha Anderson.

PALO ALTO, CA-The locally based REIT retains Credit Suisse First Boston to "evaluate strategic alternatives" for Essex Apartment Value Fund LP, a 17-property portfolio concentrated in Southern California that Essex values at approximately $640 million.

EDINBURGH, SCOTLAND-The locally headquartered financial giant, which occupies one million sf of office space here, is putting four buildings on the market as it continues to consolidate operations into fewer, larger buildings.

SEATTLE-The 162-unit Alcyone opens this week as the first new residential development in the Cascade neighborhood. The local developers, Harbor Properties and Vulcan Inc., expect to have the development stabilized at 90% occupancy in January 2005.

PORTLAND-Historic Hotel Partners LP, an affiliate of Grand Heritage Hotel Group starts a multi-million renovation that will move the hotel lobby from 10th Avenue to 11th Avenue, making room for the popular Jake's Grill to expand. Additionally, the basement gym is being converted to a day spa, for which a new entrance will be created on Alder Street.

SANTA CLARA, CA-The Dallas-based REIT pays $34.8 million for three vacant office buildings totaling 306,412 sf and land for another 230,000 sf of office development.