NAPLES, FL-The Coral Gables-based developer obtains a $69.8-million loan to acquire, totally renovate and convert the 38-acre rental complex at 2602 Fountain View Circle to for-sale condos at prices ranging from $216,000 to $321,000. Cornerstone paid a total of $80 million for the property.

NAPLES, FL-The Coral Gables-based developer obtains a $69.8-million loan to acquire, totally renovate and convert the 38-acre rental complex at 2602 Fountain View Circle to for-sale condos at prices ranging from $216,000 to $321,000. Cornerstone paid a total of $80 million for the property.

MIAMI-Fortune International, Lionstone Development and Ritz-Carlton Hotel Co. join together to renovate the Seville at 2901 Collins Ave. and add two towers for Ritz-Carlton Club and Residences, South Beach, containing 44 fractional and 94 ownership residential units.

MIAMI-Fortune International, Lionstone Development and Ritz-Carlton Hotel Co. join together to renovate the Seville at 2901 Collins Ave. and add two towers for Ritz-Carlton Club and Residences, South Beach, containing 44 fractional and 94 ownership residential units.

SPRINGFIELD, PA-In a third joint acquisition, Pennsylvania Real Estate Investment Trust and the Kravco affiliate of Simon Property Group each take a 50% interest in the 590,000-sf shopping center 10 miles southwest of Philadelphia.

SPRINGFIELD, PA-PREIT and the Kravco affiliate of Simon Property Group completes its 590,000-sf shopping center acquisition.

SPRINGFIELD, PA-In a third joint acquisition, Pennsylvania Real Estate Investment Trust and the Kravco affiliate of Simon Property Group each take a 50% interest in the 590,000-sf shopping center 10 miles southwest of Philadelphia.

PHILADELPHIA-The $22.6-million loan for the eight-story, 141-unit apartment building converted from the former Strawbridge & Clothier and May Co. warehouses contains a condo release provision although conversion from rentals is not under way.