PHILADELPHIA-The grant from Pennsylvania's Redevelopment Capital Assistance Fund is to help with construction of a museum on the Benjamin Franklin Parkway to house the $35-billion art collection now located in Merion.

PALM BEACH, FL-The hospitality REIT names Dennis Craven, principal of Memphis-based Addison Capital Advisors, to replace Bruce Riggins, who resigned to re-join Interstate Hotels & Resorts. Craven takes the post on March 31.

HORSHAM, PA-The required restatement of GMAC's financial results will have no impact on GMAC's sale of a 78% stake in GMAC Commercial Holding Corp. or GM's potential sale of GMAC. Fitch maintains "Watch Evolving" status.

HORSHAM, PA-The required restatement of GMAC's financial results will have no impact on GMAC's sale of a 78% stake in GMAC Commercial Holding Corp. or GM's potential sale of GMAC. Fitch maintains "Watch Evolving" status.

PHILADELPHIA-The declining Center City office vacancy rate is largely due to conversion of 429,650 sf to residential use. In 12 years, the City's share of the region's office space has declined from 41% to 27%.

MIAMI-Revenues and net earnings for the homebuilder rose 35% and 34%, respectively during the first quarter of the year. CEO Stuart Miller sees a "cooling off" in some markets, "but no bursting of a bubble or meltdown."

HARRISBURG, PA-The financing represents 84% of Sage Financial's cost of acquiring the 18-story landmark at 17 N. Second St. from developers Pascotti Realty and Flynn Group when it was completed at the end of 2005.

HARRISBURG, PA-The financing represents 84% of Sage Financial's cost of acquiring the 18-story landmark at 17 N. Second St. from developers Pascotti Realty and Flynn Group when it was completed at the end of 2005.