MARINA DEL REY, CA-The owner of the 188-unit Mirabella Apartments refinances the property via a 10-year fixed-rate term plus a one-year float with a 30-year amortization.

PASADENA, CA-Jon A. Torgeson, a veteran of more than 30 years in the commercial real estate industry, establishes executive search firm Torgeson Associates.

LAKE BALBOA, CA-ORIX Real Estate Capital Inc. closes its first market acquisition here with its purchase of the Lakes apartment complex.

HOLLYWOOD-The developers of the 54-unit project, called the Hollywood, land a fixed-rate loan to take out their construction financing and pay off investors.

COSTA MESA, CA-The private REIT and retail development specialist names Jack Steinhauer to the newly created position of director of acquisitions and development.

LONG BEACH, CA-The Irvine-based firm starts the boutique AVIA Long Beach at the Pike at Rainbow Harbor in the city's entertainment district.

HOLLYWOOD-A new look at commercial development here suggests that demand remains strong despite economic uncertainties, with financially strong developers keeping new projects on track.

SANTA FE SPRINGS, CA-Birtcher Development & Investments of Irvine acquires the warehouse and distribution property in a joint venture with Cornerstone Real Estate Advisers.