ATLANTA-Locally based JDN Realty is merging with Cleveland, OH-based Developers Diversified Realty. DDR is paying $439 million in common and preferred stock and is assuming $584 million in debt in exchange for all of JDN's assets.

PHILADELPHIA-The 142,000-sf Pincus Brothers-Maxwell industrial property in the heart of the Old City section goes on the sales block at an undisclosed asking price. The 56-year-old building was vacated in 2001 when garment industry production shifted overseas.

ATLANTA-Locally based Worthing Cos. sells the 318-unit apartment complex on Cheshire Bridge Rd. to an affiliate of Hawthorne, NY-based GDC for $113,522 per unit. The property, built in 2001, is 95% leased. The average monthly rent is $1,259 per unit.

PHILADELPHIA-A coordinated design will marry the three structures that make up the Columbus, OH university's William Oxley Thompson Library. It encompasses total restoration of the original 1913 building and upgrading of the less distinctive additions built in 1951 and 1977.

ATLANTA-Norfolk, VA-based Harbor Group International sold the 236,456-sf, class-A, 91%-occupied property to IPC US, a Canadian REIT, for $21.65 million or $91.56 per sf. Harbor booked an 11.59% gain, or $2.25 million since buying the asset for $19.4 million in 1999 from Bank One of Chicago.

PHILADELPHIA-A coordinated design will marry the three structures that make up the Columbus, OH university's William Oxley Thompson Library. It encompasses total restoration of the original 1913 building and upgrading of the less distinctive additions built in 1951 and 1977.

ATLANTA-Norfolk, VA-based Harbor Group International pays $36,574 a unit for the three-property Reserve Portfolio of apartments previously owned by a joint venture of Prudential Real Estate Investors and Pinnacle Management. The properties total 1,039 units in Little Rock's Pleasant Valley neighborhood.

ATLANTA-Savannah-based ANS Logistics Georgia opens a 125,000-sf East Coast distribution center in Crossroads Park, just southwest of the Savannah River, off Interstate 95. The build-to-suit facility, owned by the Savannah Economic Development Authority, is 45% occupied.