SAN FRANCISCO-Publicly held Ashforth Hospitality Trust of Dallas agrees to acquire the 338-room Pan Pacific San Francisco Hotel, which it plans to rebrand and renovate. The purchase price equates to a cap rate of 3.9% based on 2005 net income.

XI'AN, CHINA-China Properties Developments Inc., a local developer traded on the Over-The-Counter Bulletin Board, agrees to acquire Shaanxi Xinyuan Real Estate Co. Ltd. for a mix of common and preferred stock.

XI'AN, CHINA-China Properties Developments Inc., a local developer traded on the Over-The-Counter Bulletin Board, agrees to acquire Shaanxi Xinyuan Real Estate Co. Ltd. for a mix of common and preferred stock.

LAS VEGAS-Hard Rock Hotel Inc. is exploring the sale of the 646-room resort here in response to multiple purchase offers. The hotel is owned by Peter Morton, which is preparing to develop 24 acres adjacent to the resort with 1,350 condominiums.

LAS VEGAS-Hard Rock Hotel Inc. is exploring the sale of the 646-room resort here in response to multiple purchase offers. The hotel is owned by Peter Morton, which is preparing to develop 24 acres adjacent to the resort with 1,350 condominiums.

ST LOUIS-A group of tenant-in-common buyers pay $65 million for Gateway One, a 409,000-sf office tower here that sits on the Gateway Mall. In Indiana, a 171,500-sf medical office building in Indianapolis is acquired by publicly held Cogdell Spencer Inc. for $40 million.

ST LOUIS-A group of tenant-in-common buyers pay $65 million for Gateway One, a 409,000-sf office tower here that sits on the Gateway Mall. In Indiana, a 171,500-sf medical office building in Indianapolis is acquired by publicly held Cogdell Spencer Inc. for $40 million.

SAN FRANCISCO-The locally based distribution REIT acquires 561,000 sf of distribution space in Hamburg for $47 million and launches nearly $200 million of development in Osaka, Guadalajara and Mexico City.