CENTURY CITY-Kicking off its annual meeting with the theme "Blue Sky," the Americas Lodging Investment Summit begins with measured optimism about the hotel industry's recovery and its future.

LOS ANGELES-Blue Real Estate of Beverly Hills acquires the 13-story art deco landmark in Downtown L.A., from the Hertz Investment Group for nearly $9 million.

ONTARIO, CA-The Irvine-based commercial real estate investment firm acquires the 213,127-sf Ontario Airport Commerce Center from SZA Real Estate for $13.7 million

CHATSWORTH, CA-A Newport Beach-based private investor purchases an 85,080-sf industrial park here for $6.5 million. In a Sylmar transaction, $1.1 million buys 12,500 sf.

LAGUNA HILLS, CA-The REIT closes three transactions for properties here, in Anaheim and in Irvine in sales to two different buyers.

WEST LOS ANGELES, CA-Hankey Investment Co. acquires Marina Business Center in Marina Del Rey from Equity Office Properties Trust, and Younan Properties Inc. acquires the 12-story Sepulveda Center in West L.A. from the REIT.

PALM SPRINGS, CA-The 66-room hotel is sold for just over $3.1 million. The buyer and the seller are both private investors.

IRVINE, CA-Dupont Centre here and the Ronald Reagan Federal Building in Santa Ana are named as the office buildings of the year by the Orange County Building Owners and Managers Association. The buildings were the only two to receive the honor the county this year.