MIAMI-While acknowledging signs of declining sales activity nationally, Stuart Miller, president and CEO of the locally based homebuilding company, says Lennar's "access to home sites in land-constrained markets" bodes well for the year ahead.

PHILADELPHIA-Jay and Neil Shah move up to CEO, and president and COO, respectively, of Hersha Hospitality Trust, as Hasu Shah retires as CEO and remains chairman. Meanwhile, GMAC Institutional Advisors names Brian DiDonato president.

PHILADELPHIA-Jay and Neil Shah move up to CEO, and president and COO, respectively, of Hersha Hospitality Trust, as Hasu Shah retires as CEO and remains chairman. Meanwhile, GMAC Institutional Advisors names Brian DiDonato president.

MIAMI-Hurricanes, holidays and the realization that the initial phase would be the longest and most difficult, delay the start of a four-phase program to re-write zoning regulations throughout the city within two years.

PHILADELPHIA-Approvals are under way for a long-planned 308,000-sf shopping center on a 30-acre site, which the developer acknowledges is "challenged," at 52nd and W. Jefferson streets. A 171,000-sf Lowe's and 65,000-sf Shop Rite will anchor.

PHILADELPHIA-Approvals are under way for a long-planned 308,000-sf shopping center on a 30-acre site, which the developer acknowledges is "challenged," at 52nd and W. Jefferson streets. A 171,000-sf Lowe's and 65,000-sf Shop Rite will anchor.

MIAMI-Prices for the 306 condos in the 67-story tower planned for 1100 Biscayne Blvd. begin in the $900,000s and are 72% pre-sold. They range from 1,500 sf to 7,000 sf. The tower also contains a 56-suite hotel.

PHILADELPHIA-Thor Equities pays Simon Property Group $71.5 million for the 638,098-sf regional shopping center at 2385 W. Cheltenham Ave. The price tag included the assumption of $54.9 million in debt.