LONDON-Standard Life Investments has sold the Blackburn Shopping Centre in Blackburn, Lancashire, to Blackburn Centre LP, a Delaware incorporated limited partnership set up by REIT Asset Management, for more than pounds 100 million ($160 million).

NEW YORK CITY-Multifamily developer Tarragon Realty president and CEO William S. Friedman said the company is evolving rapidly and encourages onlookers to stay tuned for future developments.

IRVINE, CA-Morgan Stanley and Computer Associates each sign for a full-floor of the 14-story Opus Center Irvine II, which is now about two-thirds leased. With the 10-year leases, the class A office building is now 65% occupied.

SOUTHFIELD, MI-Sun Communities' stock was downgraded from "in-line" to "underperform" by an analyst. The Salomon Smith Barney analyst cited concerns over Sun's decision to offer discount financing for manufacturing housing.