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The company has acquired land for the first phase of the Phoenix-area development, which is expected to total more than $28 million.

The merger will create a national portfolio of 559 open-air grocery-anchored shopping centers and mixed-use assets.

Germantown, Tenn.-based MAA stayed atop the list of the country's largest apartment owners with 100,490 apartment homes owned.

The recently renovated property, located on the campus of the Memorial Care Saddleback Medical Center, sold for $31.3 million.

The company has formed the venture with long-standing institutional partners, and plans to acquire more than $1.5 billion in assets.

The company has added 25 hotels, encompassing 4,000 rooms, to its national portfolio within the past year.

Partners Group sold the 88-property portfolio on behalf of a client, upon implementing a transformational, value-add program and securing 98% occupancy.

Lennar has agreed to purchase the homesites, which are situated within a 1,275-acre, 820-home development in California's Santa Clarita Valley.