VENICE—Hines Italis SGR has assumed management of the fund from appointed manager Est Capital. The fund includes numerous properties on the Venice Lido including two cultural landmark hotels.

KYRENIA, Cyprus—Franchise Agreement has been established for Cyprus and Turkish Republic of Northern Cyprus and 15 agents are now working in Kyrenia.

LONDON—Kennedy Wilson has closed on a portion of the acquisition form Aviva, a portfolio that inlcudes 180 properties in the UK.

IRVINE CA—January existing home sales have been revised downward slightly to 5.01 million units, firm says.

BOULDER, CO—The office buildings in Boulder and Fort Collins comprise more than 1.5 million square feet, and the Fort Collins portion has been resold to Prospect Development Partners.

LONDON—The triple-net lease deal has an annual rent escalation and a 15-year weighted average term.

SAN FRANCISO—Top executives of hotel and restaurant fund manager will steer KHP Capital Parnters, managing 21 hotels.

SALT LAKE CITY, UT—On behalf of investment firm Nearon Enterprises, HFF arranged a combined $47.6 million financing for two of its office properties in downtown Salt Lake City.