PORTLAND-The owners of a health club currently in the basement of the Governor Hotel have signed a lease that commences next spring for the first two floors of the three-story historic structure at Southwest 11th Avenue and Washington Street in Downtown Portland.

SYDNEY, AUSTRALIA-Lend Lease Corporation Ltd. enters into an agreement to sell its Housing and Community Investment business to Municipal Mortgage & Equity LLC, also known as MuniMae. The sale is expected to close June 30.

PORTLAND-The owners of a health club currently in the basement of the Governor Hotel have signed a lease that commences next spring for the first two floors of the three-story historic structure at Southwest 11th Avenue and Washington Street in Downtown Portland.

SEOUL, SOUTH KOREA-The Dallas-based publicly traded real estate investor forms a joint venture with Korea Exchange Bank and WOORI Securities to advise Realty Korea CR REIT, which will invest in office buildings in Korea and throughout the world.

BELLEVUE, WA-If the transaction is completed as expected this summer, Kemper Development Company, which owns Bellevue Place and Bellevue Square, will assume total control of the 1.4 million-sf mixed-use project in Downtown Bellevue that was suspended in June 2002.

WALNUT CREEK, CA-Having already added 18 new employees this year to service new national account business, the Dallas-based manager of corporate real estate portfolios is branching out from servicing users of office and industrial space with a new retail division.

SINGAPORE-Dr. Lai Boon Yu, head of research for Jones Lang LaSalle's Asia Pacific division, says the major Asian economic hubs of Singapore and Hong Kong are seeing early signs of recovery.

REDMOND, WA-As part of its Ch. 11 reorganization, Downers Grove, Ill.-based Spiegel Inc. retains Keen Realty LLC of Great Neck, NY to dispose of 60 stores operated by its Redmond, WA-based Eddie Bauer division and a 65,000-sf call center in Bothell, WA.