Northbrook, Ill.-based Hilco Organization has formed Hilco Retail Acquisitions, LLC. Headed by Michael Lynch, onetime CEO of Kmart Canada, the company will seek to acquire small and mid-sized retail firms with multiple store locations in North America.

Sydney-based Westfield Group acquired a 75 percent interest in Stratford City development in east London for approximately $255 million. The land, approved for a 13-million-square-foot mixed-use project, is located adjacent to the site of the 2012 Olympic Games. Retail will comprise 2 million square feet of the development. The purchase gives Westfield full control of the site.

Toronto-based Primaris Retail REIT agreed to acquire a shopping center portfolio for $114.3 million. The portfolio, totaling 704,605 square feet, includes Alliston Mills Shopping Centre in Alliston, ON, Forest Glen Shopping Centre in Kitchener, ON, South Cambridge Centre in Cambridge, ON and Sugar Loaf Mall in Campbellton, NB.

Inland Bancorp Holding Company Inc. agreed to acquire 100 percent of Illinois-based Cambank, Inc., parent of Cambridge Bank, in an all-cash transaction. The deal represents a price of approximately $65.53 per share of Cambank stock. Cambridge has assets of $306.7 million as of March 31, 2006, and will nearly double the banking assets of Inland Bancorp.

Philadelphia-based RAIT Investment Trust and Taberna Realty Finance Trust have entered into a definitive merger agreement. Under the terms of the agreement, Taberna will become a subsidiary of RAIT, operating under the joint name of RAIT Financial Trust. The merger will create a REIT with approximately $1.2 billion of equity capital.

California-based Canyon Capital Realty Advisors provided a $66-million senior bridge loan to Downtown Resorts for the renovation and rebranding of the former Lady Luck Casino Hotel in downtown Las Vegas. In addition to a 627-room hotel, the property contains 54,000 square feet of casino, restaurant and retail space. New York-based Capital Lease Funding, Inc. introduced a forward acquisition program that enables sellers of well-located properties net leased to credit tenants to lock in cap rates for up to 12 months ahead of project completion. The company plans to acquire approximately $250 million worth of properties under this program in 2006.

Chattanooga, Tenn.-based CBL & Associates Properties, Inc. has formed a development leasing group within its corporate leasing division. The group will focus exclusively on new developments. John Waller, current vice president of mall leasing, will be in charge of the group. The firm also promoted Michael I. Lebovitz (pictured) to senior vice president and chief development officer. Lebovitz will be responsible for directing the company's development program, including new projects, redevelopments, renovations and expansions of existing properties. Lebovitz formerly served as senior vice president of mall projects.

An affiliate of Oak Brook, Ill.-based Inland Real Estate Group of Companies purchased 496,224 square feet of the Yuma Palms Regional Shopping Center in southwestern Arizona for $95.7 million. The center features such tenants as Dillard's, JCPenney, Target, Sam's Club and Kohl's. Yuma Palms is 97 percent occupied.

CB Richard Ellis/New England brokered the sale of the 285,747-square-foot Twin City Plaza in Cambridge/Somerville, Mass., to Regency Centers for $63 million from Charter Realty & Development. Bill Moylan, Chris Angelone and Leslie Faraci, of CBRE's Northeast retail investment team, represented the seller and procured the buyer.

Grubb & Ellis negotiated the sale of 265,324-square-foot McCarthy Ranch Marketplace in Milpitas, Calif., to L&B Realty Advisors, LLP for $63 million. Michael Federle, Robert Comartin and Nicholas Bicardo, of Grubb & Ellis' San Francisco office, represented both the buyer and the seller. Tenants at the retail center include Best Buy, Borders Books and Office Depot.

Chicago-based General Growth Properties, Inc. won the management contract for 1.8-million-square-foot Northwest Plaza shopping center in St. Ann, Mo. The property has 100 stores and is anchored by Dillard's, Famous Barr and Sears. General Growth will provide management, leasing and marketing services for the center, which has recently been purchased by Somera Capital Management.