The agreement is part of Sterling’s major recapitalization plan.

General Growth filed for bankruptcy in April 2009. At the time, it listed assets of $29.6 billion and debts of $27.3 billion. Earlier this year a consortium of Blackstone, The Fairholme Fund and Pershing Square Capital Management said they would provide as much as $8.5 billion to finance the company’s bankruptcy emergence.

The condominiums have been completed and 26 of 54 units sold. The loan was closed within three weeks from the date the owners signed the loan application.

The company will invest in three separate transactions: $138 million for a renovation loan on the Hyatt Regency New Orleans; the purchase of an $85 million subordinate first mortgage loan secured by a regional mall in Ohio, bought at a discount for $68.6 million; and the $45.5 million participation in a B-note secured by four British resorts for the discounted price of $37.4 million.

The Deaconess Portfolio is comprised of five medical office buildings in strategic locations on or adjacent to a hospital or clinic campus. It covers 260,500 square feet of gross leasable area and is 100 percent master-leased to Deaconess Clinic, Inc.

Aqua Via is located near Jack London Square, a hallmark of Oakland currently undergoing a $375 million redevelopment. It is also located close to public transportation, including AC Transit buses and Amtrak trains.

For the second time this week, a big institutional investor snaps up a prime office property in Washington, D.C.

TIAA-CREF closed Wednesday on the $180 million acquisition of Washington, D.C.’s venerable Evening Star building.

In advance of its Global Real Estate Summit 2010, legal firm DLA Piper has released its State of the Market Survey, which asserts that the market has indeed hit that much-vaunted bottom.

Canyon Capital Realty Advisors has provided $25.5 million in financing for a condominium project in Kansas City, Mo. The senior bridge loan was made to Park Place KC, LLC to purchase an existing construction loan along with completing the remaining unsold 85 condominiums at One Park Place, a 20-story building designed by Skidmore, Owings & Merrill.