One year after sbe, a hospitality and real estate development company, and Stockbridge Capital Group L.L.C. shut the doors of the Sahara Hotel & Casino to assess new options for the iconic gaming destination, the partners have obtained $300 million in financing for a redevelopment project that will transform the Sahara into SLS Las Vegas.

After a full day of thinking, networking and discussing the future of real estate, attendees to the CoreNet Global Summit 2012 in San Diego returned to a second day of planning for the future of the industry — and technology and data offerings will play a critical role.

Hines and its joint venture partner — a group of institutional investors advised by J. P. Morgan Asset Management — have broken ground on the second office tower at La Jolla Commons in San Diego’s University Towne Center submarket. The project will result in a 415,000-square-foot building that will be occupied in its entirety by LPL Financial.

360 Residences, a mixed-use apartment high-rise in downtown San Jose, has come under the ownership of Capri Capital, courtesy of a $118 million transaction. Capri purchased the upscale multi-family property from SJ Real Estate Partners, a subsidiary of Kennedy Wilson.

CommonWealth Partners has purchased Seattle’s Russell Investments Center for $480 million. CBRE, which orchestrated the sale on behalf of Northwestern Mutual, described the trade of the 872,026-square-foot property as “the largest single-asset office sale in the Western United States since 2006.”

Kennedy Wilson has shed two multi-family assets — 360 Residences in San Jose and Arbor Creek Apartment Homes in Beaverton, Ore. — for a total of $154 million to two separate buyers.

Rising Realty Partners, helped by funds from Mount Kellett Capital Management, has acquired the landmark 440,000-square-foot PacMutual building in Downtown Los Angeles and plans a significant repositioning for the property.

American Realty Advisors’ commercial real estate purchasing activity has just swelled by approximately 900,000 square feet — and then some — with the recent addition of five properties spanning the industrial, multi-family, office and retail sectors.

Clarion Partners, owner of the 338,700-square-foot Plaza at Walnut Creek office complex in suburban San Francisco, just obtained a $60 million permanent loan for the two-building property.

Trigild, a San Diego-based real estate management and loan recovery firm, recently expanded its multi-family portfolio with the addition of seven multi-family communities across the United States.