NEW YORK CITY-The new fund, which plans to seek an additional $150 million in capital, will invest in subordinate debt and specialize in deals worth $10 to $30 million. All asset classes in the US and Puerto Rico will be considered for its portfolio.

TUCSON-The 12th Avenue Partners has secured about $1.8 million for a retail center that it's owned for just three years. The transaction puts the 32,400-sf Fiesta Plaza on the city's south side into the hands of the Saia Family LP.

ST. PAUL, MN-The Metropolitan Council thinks proposals to cut back public transportation funding at Minnesota Legislature is "out of step" and says concern over affordable housing is the fastest growing problem.

PORTLAND-The 17-story, 270,000-sf concrete office tower is named "The Office Building of the Year" locally and regionally in its size category by the Building Owners and Managers Association, but comes up short this week at the nationals in Baltimore.