Developers Diversified Realty Corp. formed DDR Domestic Retail Fund I. The fully seeded commingled fund will purchase a $1.5 billion portfolio of 63 shopping centers from Developers Diversified and its affiliates. The company already contributed 52 properties to the venture.

Heitman LLC closed Heitman Value Partners II, an $800 million fund with the investment objective of assembling a diversified portfolio of properties through joint ventures with operating partners. The fund has the capacity to buy more than $2.4 billion of real estate assets over the next three years. Tom McCarthy, partner of Heitman, will oversee the fund series.

Konover South, LLC secured $350 million through two joint ventures with an institutional capital source advised by Heitman to target retail opportunities throughout Florida and southeastern United States. The money will be divided according to the following terms: $200 million will be used toward the acquisition of stabilized grocery-anchored and power centers and $150 million will target development and redevelopment opportunities. DTZ Rockwood and Sydell Partners arranged the joint ventures on Konover's behalf.

Faris Lee Investments negotiated the sale of a single-tenant big box property in Lone Tree, Colo., from the Broe Cos. to Eaton Vance Management for $33.7 million. The property, occupied by the Great Indoors, contains 180,000 square feet of space. Richard Walter, Dennis Vaccaro and Patrick Kent, of Faris Lee, represented both parties in the transaction.

Regency Centers acquired Fairfax Shopping Center, an 85,482-square-foot retail property in Fairfax, Va. The company plans to undertake a redevelopment of the site with J Donegan Co.

Metro Development Company sold Swedesford Plaza Shopping Center, a 152,000-square-foot retail property in Devon, Pa., to Wharton Realty Group for $40.5 million. Peter Maggio and Greg Bianchi, of US Realty, represented Metro Development in the transaction. Donna Drew, of Michael Salove Company, represented the buyer.

Holliday Fenoglio Fowler, L.P. arranged a $265 million loan for 600 West Chicago, a 1.8-million-square-foot mixed-use property in Chicago, Ill. The loan featured a 10-year, fixed-rate, interest-only term. Holliday Fenoglio Fowler's Mike Kavanau and Even Pariser negotiated this transaction.

Inland Institutional Capital Partners Corp. negotiated a $250 million participating preferred equity investment with LIP Holdings, LLC, a subsidiary of Lauth Investment Properties, LLC, on behalf of Inland American Real Estate Trust, Inc. LIP Holdings will use the preferred equity to fund the development and ownership of more than $1 billion in real estate projects nationwide, including office, distribution, retail, health care and mixed-use properties.

Charles Dunn Company, Inc., the commercial brokerage arm of the Charles Dunn group of companies, joined global real estate services organization GVA Worldwide. Charles Dunn, under the banner GVA Charles Dunn, will now represent GVA throughout the greater Los Angeles area. The company currently employs more than 70 brokers in four offices located in Southern California.

Inland Western Real Estate Trust, Inc. acquired an interest in the 388,428-square-foot completed portion of the Shops at Legacy, a 700,000-square-foot lifestyle center in Plano, Texas, from the Karahan Companies in an off-market transaction.