NEW YORK CITY-Major initiatives in Spain include a new Barcelona office and the addition of Arthur Andersen's former Spanish property advisory team in Madrid. New alliances are formed in Sweden and Denmark, and there's a new chief executive in Frankfurt.

PHILADELPHIA, PA-Minnetonka, MN-based MedSource Technologies has agreed to buy medical device firm Cycam Inc. for $24 million in cash and stock. A result could be a sale-leaseback of 149 Johnson Rd. in Houston, PA.

LONDON-The UK market in health and fitness clubs is facing a massive shakeup with two different mergers totalling pounds 490 million ($769 million) in the offing.

SACRAMENTO-Downtown Sacramento is booming and city officials are hopeful that a new $19.5 million retail and luxury apartment project will help midtown Sacramento catch up.