PORTLAND-The executive director of the city's urban renewal agency tells GlobeSt.com he expects the end of the recession will mark the beginning of a true convention center hotel--one that can dedicate 500 rooms for conventioneers.

SAN FRANCISCO-An industry source close to building owner Tishman-Speyer Properties tells GlobeSt.com the company technically went into default on the largely vacant 727,242-sf development before reaching an agreement with the lender to take it out and maintain ownership until it is sold.

DONGGUAN, CHINA-Looking to save on rental expenses, the Hong Kong-based company pays approximately $4.1 million for a multi-building complex here that it previously leased and uses for the company's electronics and metallic products operations.

SPOKANE, WA-Most recently the publicly traded company's executive vice president and chief financial officer, Arthur Coffey has been selected to replace CEO Donald Barbieri, whose upcoming retirement was announced in early March.

PUERTO RICO-One of the largest owner of multifamily properties in the nation provides $8.6 million of equity to a Puerto Rico-based firm for the development of a 132-unit senior affordable housing development.

SEATTLE, WA-With several successful dispositions under its belt, Colliers International forms a division specifically to provide semiconductor manufacturers with expertise in facility brokerage, valuation, capacity analysis, tax appeal and negotiated tax settlement services.

CLEVELAND-The retail REIT tells GlobeSt.com it has collateralized the loan with 10 shopping centers it owns and will use the proceeds to pay down debt and fund ongoing capital needs.

OAKLAND-In an all-cash transaction, Berkeley-based Elmwood Realty acquires the Grand Lake Terrace Apartments in Oakland for $112,385 per unit. The property was 95% leased at the time of sale.