LONDON-Highcross has announced the first closing of a new private equity fund, which will have an investment war-chest of pounds 350 million ($580 million) to spend. It has already raised pounds 75 million ($125 million) mainly from US investors.

MIAMI-MM Real Estate LLC paid about $117.92 per net rentable sf to 5959 Blue Lagoon Partners Ltd. for the class A building here. The buyer, a Spain-based insurance company, plans to consolidate local offices in the building.

PHILADELPHIA-The 10-year, fixed-rate refinancing for the landmark at Independence Square--one of the city's most notable architectural gems--was arranged by New York-based Sonnenblick-Goldman Co.

EAST BRUNSWICK, NJ-The furniture chain has hired New York-based Keen Realty to market a 50,000-sf store here, and a 57,000-sf unit in Livingston, NJ.