A German bank has pulled the plug on its deal to lend $160 million for a 41-story condominium project under construction downtown - the largest example in Denver so far of how the turmoil in international lending markets affects a local market.HypoVerinsbank, with more than $150 billion of assets, is backing out of its construction loan for the $175 million Spire at 891 14th St., across from the Colorado Convention Center. The deal represented one of the largest construction loans ever made in Denver.

California, anchored by two coastal cities with rising employment and rents, attracted almost $49 billion in commercial property investment in the first half of the year, more than any other state.

The most populous U.S. state had 29 percent more office, retail, hotel and industrial real estate sales by dollar amount than New York state and triple that of third-place Texas. California’s total investment was up 48 percent from a year earlier, research firm Real Capital Analytics reported. It trailed New York only in apartment sales.