PHILADELPHIA-Alex Schwartz, a long-time local investor, acquires a majority stake in the 23-story property from a partnership headed by New York-based Witkoff Group. According to published reports, the price was about $77 per sf.

LANGHORNE, PA-The new owner pays $16.7 million in cash for the 187-unit asset and an adjacent 56,000-sf office building. It will invest $5.7 million to renovate the hotel and sell the nearly vacant office structure.

PHILADELPHIA-In another sign of the strength of Center City's luxury multifamily market, the buyer plans a $3.5-million renovation to lift the 162-unit, 20-story property at 1500 Chestnut St. to the luxury level.

KING OF PRUSSIA, PA-Among the largest commitments in this suburb in several years, the lease takes AMC Delancey's 60,000-sf property to 93% occupancy. The facility was vacant when Delancey acquired it two years ago.

CONSHOHOCKEN, PA-The company best known for adaptive reuse of old, often abandoned factories hires Trammell Crow to market about 65% of its total holdings to fund the planned acquisition of more buildings "nobody else wants."

NORRISTOWN, PA-In two unrelated transactions here, the DeKalb Medical Building at 1401 DeKalb St. sells for $1.6 million, and a $4-million renovation of the 11-story, 225,634-sf One Montgomery Plaza office building reaches completion.

HARRISBURG, PA-The Boston-based REIT expands its presence in the mid-Atlantic with its purchase of the 444,000-sf shopping center on Route 22 and Devonshire Road. Giant Food and Dick's Sporting Goods anchor the 93%-leased property.

BRYN MAWR, PA-The renewal of its existing lease along with an additional 5,560 sf represents an aggregate value in excess of $1.5 million, according to Matt Frederick of Philadelphia-based Arden, who represented the tenant.