LONDON-Total lending to commercial property increased in the second quarter of 2004 by its biggest margin since records began in 1986, according to new Bank of England figures. The total figure of €161.8 billion ($198.5 billion) represents a record high as investors seek to capitalize on rising values to refinance their asses.

LONDON-Morley Fund Management, one of the UK's largest fund managers, is to invest €1.5 billion ($1.8 billion) in continental European property on behalf of a major client. Ben Stirling is to head up the expansion.

LONDON-Delancey Estates has put the 135,000-sf Millennium Plaza leisure scheme up for sale with a €34.1-million ($42-million) price tag. It is one of the biggest leisure developments in Wales.

LONDON-REIT Asset Management has bought Vintners Place on Upper Thames Street, EC4, from Blackstone Real Estate for euro 181.4 million ($223.9 million) reflecting a 7.9% yield. The acquisition means fund has been involved in more than euro 1.5 billion ($1.8 billion) worth of deals so far this year but the latest reflects a return to London offices.

BEIRUT-Plans have been unwrapped for a $326-million development near Beirut--on the Middle East's biggest marina. Malaysian Investment Bank has become just the latest to announce plans for a multi-million mixed-use development intended to tap into the burgeoning tourism industry in Lebanon.

LONDON-The Mall Fund, the joint venture between Capital & Regional and Morley Fund Management, picks up three regional shopping centers from REIT Asset Management for euro 565.2 million ($697.6 million). The acquisition makes the fund the second biggest owner of shopping centers in the UK.

LONDON-Hotels group Millennium & Copthorne is selling its Plaza hotel in New York to CPS One for €552 million ($680 million). The move is part of a strategic review of the company's assets.

LONDON-P&O is putting the exclusive La Manga resort in Spain on the market for euro 148.9 million ($181.3 million) and has sold the Manchester Evening News (MEN) Arena to Anschutz Entertainment Group for euro 59.6 million ($72.7 million).