LOS ANGELES—A joint venture secures $30 million in financing to purchase and renovate the Beverly Hills Country Club, but their lender, Bradford Allen and Security Benefit Life Insurance Co., didn't see much competition for the deal.

HOFFMAN ESTATES, IL—In all, Sears Holdings expects to realize up to $3 billion in proceeds from its sale-leaseback to spinoff Seritage Growth Properties and the sale of its interests in three joint ventures.

NEW YORK CITY—The building's development likely was kicked into high gear after two tenants signed LOIs for office space there last week.

PHOENIX—Sonoran Ridge and the adjacent 100-room, Day's Inn Motel were purchased by Lennar Multifamily Communities for a combined purchase price of $11.5 million. The 6.7 acre site is set to be redeveloped into a 399-unit apartment community featuring four levels of apartments stacked on top of podium parking and 4,242 square feet of ground floor retail space.