The 175-key extended-stay hotel, which is under construction, will be located at 315 First Ave., near the Mayo Clinic's downtown campus.

Some 20 employees have joined the new company, which will focus on the net lease market.

The German aviation and aerospace production firm has signed a lease for 43,206 square feet at a 151,693-square-foot building at the Elk Grove Technology Park.

The New York-based investor has acquired the Town Commons apartment community in Gilbert, Arizona.