SMYRNA, TN-The five-year lease will begin in December, the estimated completion date of the 240,000-sf facility being developed by Panattoni Development Co. at Southpark Distribution Center in the city.

PORTLAND-The Beverly Hills, CA-based real estate investment, fund management and services firm opens its first office in Oregon. Karen Stromme, a senior managing director with the company, will spearhead property management and real estate related services.

CHARLESTON, SC-The New York-based owner, operator and franchiser of hotel properties agrees to sell a 296-room Sheraton here to a Raleigh, NC-based LLC that plans to renovate and rename the property under the same branding.

BRNO, CZECH REPUBLIC-GE Real Estate and Heitman Central Europe Property Partners II acquire an 80% stake in four shopping centers in the Czech Republic from TK Development of Denmark.

PALO ALTO, CA-The apartment REIT sells one million shares of its 7.8125% Series F Cumulative Redeemable Preferred Stock at $24.664 apiece with plans to use the proceeds for the upcoming redemption of the 9.125% Series C Preferred Units of Essex Portfolio L.P., of which Essex is the general partner.

NASHVILLE, TN-The senior living and health care services provider completes a $171-million transaction with Health Care Property Investors and uses the funds to pay down debt by $158 million, including $52 million of high-interest mezzanine debt.

TUKWILA, WA- Mastro Properties' $5.1 million bid wins the trustee sale of the former Wade Cook/Stock Market Building on Interurban Avenue South here.

CHATTANOOGA, TN- CBL & Associates Properties Inc. forms a 90-10 joint venture with Galileo America REIT, the US affiliate of Australia-based Galileo America Shopping Trust, which expects to be listed on the Australian Stock Exchange in the fourth quarter.