MUNICH-Real.IS Investment GmbH's special funds have purchased Parkstadt Office in Munich from LaSalle Investment Management.

CHICAGO-A venture headed by Frankfort-based Crown Commercial Real Estate & Development Inc. has bought an old office property on North Michigan Avenue near Millennium Park with plans to convert it into a hotel.

NEW YORK CITY-JPMorgan and SL Green Realty have sold One Court Square, a 50-story office tower in Long Island City, to a group headed by David Werner for just over $500 million.

LEXINGTON, MA-Stone River Properties LLC has bought Marrett Square, a 16,791-square-foot retail center on Marrett Road in Lexington, for $2.52 million.

TAMPA, FL-GCAK Tampa LLC, a subsidiary of Tampa-based Mercury Advisors LLC, has received a $27.4-million loan for Grand Central at Kennedy in Tampa's Channel District.

HOUSTON-The Woodlands Development Co., a wholly owned subsidiary of The Howard Hughes Corp., will soon start construction of Hughes Landing at Lake Woodlands, a mixed-use development in The Woodlands.

RALEIGH, NC-Grubb Properties, a real estate development and management company in North Carolina, will open a new multifamily property in Raleigh.

ATLANTA-Jamestown has put its Midtown office tower on the market for sale.