LONDON-UBS Global Asset Management has recruited three former members of the European investment division of Lend Lease, ahead of the launch of a number of new European property funds.

DETROIT-Land is hard to come by in the Western-Wayne market, so DeMattia Group paid the city of Detroit $6 million for 100 vacant acres.

LONDON-St Modwen Properties has sold the second phase of its Castle Walk shopping scheme in Newcastle-under-Lyme, Manchester, to the Atmore Group for pounds 13.2 million ($21 million).

DAYTONA BEACH, FL-Consolidated-Tomoka Land Co., one of the largest land development firms in the state, shows a net loss of four cents per share and earnings before depreciation and deferred taxes of another negative four cents per share for the quarter ended June 30.