MALVERN, PA-The locally based REIT, which trades on the NYSE as LRY, is issuing 2.7 million shares with an over-allotment option of 405,000 shares. On Dec. 10, LRY shares opened at $38.40.

VALLEY FORGE, PA-The first phase of Riverview at Valley Forge, a mixed-use community on the 64-acre site of "Lubinville," a historic 1915 film studio, begins. It includes construction of a 602-unit multifamily complex.

DENVER-An associate director at Cushman & Wakefield predicts that at the most this market will only generate approximately 84 investment grade transactions for 2003. Last year there were 103.

MIAMI-Rental rates are rising, and vacancy rates are falling, states Terranova Corp.'s Fall 2003 Miami-Dade County Shopping Center Update released recently. Countywide, the retail vacancy rate dropped from 7.65% three years ago to 6.93% currently.