PHILADELPHIA-Although office vacancy rates in Philadelphia and surrounding submarkets will continue to rise this year, and asking rents remain flat, reduced construction levels are keeping the market intact, according to research from Marcus & Millichap.

MCLEAN, VA-Through the issuance of Triple Net Lease Mortgage Notes by its subsidiary CARS Loan Servicer, Capital Automotive REIT completes a $325-million securitization package. Capital plans to use the proceeds to fund future acquisitions and pay down short-term credit facilities.

PHILADELPHIA-Eight acres on the outskirts of Elkins Park, PA, owned by the Cradle of Liberty Boy Scout group, sell to an upscale home developer for $950,000. Developer Mignatti plans 38 townhouses for Bryer Court, a high-end community in Cheltenham Township.

ROCHESTER, NY-Home Properties reports that it has made key acquisitions in the Boston and Long Island, NY markets totaling nearly $90 million and sold two properties in Maryland and Pennsylvania for $13.6 million.