WEST PALM BEACH, FL-Commonwealth American Financial Group and a company formed by the Northwest Communities Development Partnership plan to redevelop 91 existing housing units and 22 vacant lots into units to sell for $250,000.

PHILADELPHIA-Simon Property Group sells the shopping center on Cheltenham Avenue, eight miles north of Center City. It was built in 1957, and renovated and enclosed in 1981.

PHILADELPHIA-Simon Property Group sells the shopping center on Cheltenham Avenue, eight miles north of Center City. It was built in 1957, and renovated and enclosed in 1981.

PHILADELPHIA-Simon Property Group sells the 640,177-sf Cheltenham Square Mall.

BOCA RATON, FL-The West Palm Beach-based condo converter plans ground-up construction of 28 townhouses at the former St. James Club. The 224-unit rental complex, which it acquired in 2004 for conversion to condos, will be given a new name--Bacara.

BOCA RATON, FL-The West Palm Beach-based condo converter plans ground-up construction of 28 townhouses at the former St. James Club. The 224-unit rental complex, which it acquired in 2004 for conversion to condos, will be given a new name--Bacara.

MIAMI-In four separate transactions, as many small multifamily properties here in Miami Beach and Lake Park trade ownership. Sizes range from six to 48 units each, and prices span from $70,833 a unit to $221,000 a unit.

WAYNE, PA-Along with three other former Preferred Real Estate Investments execs, Kolar founds Patriot Equities to buy multiple properties from corporations, dispose of or redevelop the excess and lease back those used by the seller.