LONDON—Madison International's 25% stake in the Sierra Portugal Fund, which controls nine shopping centers, marks the private equity firm's debut in the Portuguese market.

MIDDLETOWN, PA—Estes Express Lines has signed a 77,987-square-foot lease at 400 Capital Lane in Middletown, PA. The 242,824-square-foot building, owned by a joint venture of Woodmont Industrial Partners and AEW Capital Management, is now fully leased.

LAGUNA HILLS, CA—Greenlaw and UBS have partnered for the acquisition of Saddleback Valley Medical Center.

NEW YORK CITY—Most top US office markets saw its vacancy rate fall and asking rents rise in the fourth quarter of last year, driven in large part by leasing in the tech sector, as well as from corporate relocations.