HUNTINGDON, PA-Construction begins on eight of the 26 acres Cedar acquired adjacent to Lake Raystown Shopping Center. The base rent is $1 million a year with interim increases after the first 10 years.

MIAMI-The Los Angeles-based hotel operator acquires the1930s 45-key Art Deco hotel at 1220 Ocean Dr. on South Beach and plans to convert it into for-sale hotel condo units. It marks the beginning of a Tides brand.

MIAMI-The Los Angeles-based hotel operator acquires the1930s 45-key Art Deco hotel at 1220 Ocean Dr. on South Beach and plans to convert it into for-sale hotel condo units. It marks the beginning of a Tides brand.

NEWTOWN SQUARE, PA-The REIT, which is undergoing a review of its 2005 financial statements, further quantifies its 2005 guidance. The CFO who alleged a "tone at the top" problem is replaced.

HOLLYWOOD, FL-In a tightening market, a 79,143-sf vacant industrial portfolio here sells for $6.5 million and a 40,000-sf office building in Lauderdale Lakes trades for $5.9 million.

PHILADELPHIA-The acquisition of the locally based firm raises its London-based parent's real estate assets above $17.3 billion. The company becomes Grosvenor Investment Management US with higher sights and no change in management.

HORSHAM, PA-The new $1.8-billion facility consists of a $1.5-billion revolving facility and a $300-million term loan. This replaces, "at a more attractive rate," a $1.2-billion revolving credit facility set to mature in July 2009.

BOYNTON BEACH, FL-Sembler Co. and Compson Associates break ground for a development containing 400,000 sf of retail, 1,200 residential units and 40,000 sf of office space. The retail component is 70% preleased.