PHOENIX-Pinnacle Entertainment Inc. acquires local outfit Aztar Corp. for $1.45 billion. In the deal, Pinnacle also agrees to take on some $723 million in debt, bringing the deal to more than $2.1 billion.

MESA, AZ-An individual from the Spokane, WA area makes an initial investment in the local multifamily market with the acquisition of Sierra Madre. The property counts 206 rental units.

RANCHO BERNARDO, CA-Developer Via Frontera Inc. is under way on its $34-million Pinnacle Executive Centre project. The class A office building is set to complete work during the first quarter 2007.

SAN DIEGO-The local firm arranges senior financing for the 333-room Radisson Hotel Harbor View in Downtown. The 23-story property was originally developed in 1990.

SAN DIEGO-The Centex Homes project will be an eight-story, 90,000-sf property at buildout. Centex is planning for a July completion date.

SAN DIEGO-Housing projects in the pipeline continue to mushroom with the announcement of Father Joe's Villages plans for 136 affordable multifamily units.

CARLSBAD, CA-The Allen Group is beginning work on Kelly Corporate Center IV. The concrete tilt-up office building will total 77,500 sf at build-out.

SAN DIEGO-The pension fund picks up another local property with its $17.9 million purchase of the Mitchell International Building. The property is 100% leased to Mitchell International.