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SAN FRANCISCO-Partners Sagamore Equities and Citigroup are expected to close soon on the acquisition, a 110,000-sf office building at 74 New Montgomery St. owned by Levin Menzies Kelly and Associates and anchored by the University of California at San Francisco.

ATLANTA-The 29-year-old, locally based insurance broker will operate as a subsidiary of Wachovia Bank which has dual headquarters in Atlanta and Winston-Salem, NC. Terms of the deal were not disclosed.

SPOKANE, WA-The new 120,000-sf shipping facility would allow FedEx to consolidate existing operations and dovetail into Spokane International Airport's plans to spend $6 million for the construction of a new shipping apron and improved taxiway.

DALLAS-In an ongoing personnel shift, three more changes come down the pike for the region. The Weitzman Group and Wyndham International have implemented upper-level promotions while The Industrial Group has brought on board a new tenant rep.

WASHINGTON, DC-Saying that new construction of federally insured affordable rental housing has all but disappeared, the Coalition for Affordable Rental Housing is urging Congress to increase FHA insurance.

ORLANDO-Lower cost of capital and lower interest rates will trigger a slight increase in activity this year, but buyers aren't picking up bulk portfolio sales as they did prior to 1999, Ronald J. Rogg tells GlobeSt.com.

LOS ANGELES-Caruso Affiliated Holdings has been selected as the developer for the $100-million Glendale Town Center project.

HOUSTON-The Houston Telecom Exchange is welcoming its newest tenant, Global One. The telecommunications service provider is occupying 25,000 sf in the 216,000-sf high-tech undertaking of Insignia, Koontz McCombs and Blackacre Capital.