PHILADELPHIA-Locally-based Pearl Properties has increased its portfolio on Walnut Street here with the acquisition of 1401 Walnut St. for $15 million.

WASHINGTON, DC-The General Services Administration and Metro have struck a deal that could potentially lead to the relocation of a federal agency to land near the Branch Avenue Metro Station.

WASHINGTON, DC-Metro has reworked a development agreement for its Takoma station and is now looking to have more than 200 condo units built there instead of about 90 townhomes.

PHILADELPHIA-Locally-based Pearl Properties has increased its portfolio on Walnut Street here with the acquisition of 1401 Walnut St. for $15 million.

TRENTON, NJ-The price tag from Superstorm Sandy in New Jersey continues to be staggering. The tax assessments on more than 40,000 properties in the Garden State have been reduced by $4.3 million due to damage caused by the October 2012 storm.

NEW YORK CITY-Blackstone Group LP, which has invested $5 billion in the distressed homes market, has established a new unit—B2R Finance LP—that will offer financing starting at $10 million to landlords in the up and coming arena of single-family home rentals.

NEW YORK CITY-While the Bloomberg administration looks for a new institutional partner to replace the Museum of the City of New York, the city has taken control of the not-for-profit South Street Seaport Museum.

MIAMI-It turns out the savior of The Shore Club in South Beach from the auction gavel last month were two loans totaling more than $182 million.