LOS ANGELES-The REIT will apply $225 million of the net proceeds of the refinancing of Wells Fargo Tower to help fund its $3-billion purchase of an Equity Office Properties portfolio.

BEVERLY HILLS, CA-Galaxy Commercial Holding of Beverly Hills is converting an 11-story office building into a 37-unit luxury apartment tower called the Blu.

COLUMBUS, OH-The off-price retailer, still mulling over what to do with its Value City Department stores, reports lower quarterly and yearly losses.

ONTARIO, CA-The Denver-based specialist in distribution facilities acquires two buildings totaling 855,000 sf here and signs a tenant to a 700,000-sf warehouse in Redlands.

MISSION HILLS, CA-Koll/PER, a joint venture of the Newport Beach-based Koll Co. and the Public Employee Retirement System of Idaho, buys the 130,240-sf multi-tenant property.

SEAL BEACH, CA-Phase one of the Gardena-based developer's Pacific Gateway Business Center comprises six industrial buildings totaling 626,444 sf.

ONTARIO, CA-The footwear firm signs for space in the Bixby Archibald Business Center, where Bixby plans an additional 140,000-sf development.

SANTA MONICA, CA-Broadreach Capital Partners acquires the 96,388-sf Ocean Park Plaza office complex for $24.5 million and plans to capitalize on the tight Westside market.