CINCINNATI - Phillips Edison-ARC Shopping Center REIT to change the payment of asset management fees to its advisor from cash or restricted stock to operating partnership units.

MT. PROSPECT, IL - The Alter Group sells a 147,932 square foot warehouse/distribution building in the Lake Center Corporate Park to an institutional real estate investment advisor.

CHICAGO - Paine/Wetzel/TCN Worldwide and L3 Corp. have announced deals they have closed recently in the Midwest area.

DES PLAINS, IL - Transwestern brokers the $39 million sale of a building for O'Hare Lake Office Park to Saban Capital. The building houses the Federal Aviation Administration's Great Lakes regional headquarters.

CHICAGO - Cushman & Wakefield serves as exclusive advisor to a Lowe Enterprises affiliate to secure first mortgage financing for hotels in Chicago and Boston.

CHICAGO - Aries Capital's Jeff Bucaro completes an $8.8 million first mortgage on behalf of Marquette Real Estate Investments for a multifamily property in Naperville, IL.

ELGIN, IL - Chicago-based Bridge acquires an industrial facility at Randall Crossings Business Park along with an adjacent 10-acre land site.

CHICAGO - CNL Healthcare Properties acquires 10 senior living communities in six states in two separate transactions for $158.2 million. All of the properties are in the Midwest or Eastern United States