LOS ANGELES, CA-Vacancy rates above 14% in L.A. and other major office markets increase the risk of delinquencies on office building mortgages, a report says. Economic factors driving population and employment growth for major U.S. office markets are expected to remain sluggish.

LONG BEACH, CA-The real estate investment trust acquires the 202-unit Marbrisa Apartments from the Dermot Co. of Del Mar, Calif., which was both the owner and the manager of the 14-year-old complex.

WEST LOS ANGELES, CA-The new entity, Somera Investment Partners, taps a Madison Marquette exec to specialize in acquiring and repositioning retail properties. Somera's leasing, property management and redevelopment needs will be met by Madison Marquette.

ORANGE, CA-The 24,000-sf multi-tenant office building, clad in Italian marble and built in 1986, is fully leased. The University of Sarasota is one of the building's major tenants.

LOS ANGELES, CA-Room rates are down from their peaks in 2000, and occupancy remains flat compared with last year, but most owners are on solid ground because they can easily meet debt service, according to Grubb & Ellis.

CHINO HILLS, CA-Owners of Crossroads Marketplace secure bridge, mezzanine and tenant improvement financing for the 325,000-sf power center, which has more than 70,000 sf of new construction under way.

LOS ANGELES, CA-The L.A. County office market posts negative net absorption in the third quarter, but absorption improved dramatically from a year ago and could hit positive territory by early 2003, an Insignia/ESG report says.

ORANGE COUNTY, CA-Occupancy is down from the peak year of 2000 in the county's hotels, but it's up from last year, in part because of destination resorts that draw getaway visitors.