Construction continues on The Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, which announced more than two dozen new lease deals at the property.

The 18-building, 1.3 million-square-foot portfolio sold to an affiliate of Longfellow Strategic Value Fund LLC.

The 300-unit luxury property in Augusta, GA was purchased from site developer, Southeastern Development Associates.

With New York City’s affordable housing crisis, the developers plan to tap into tax credits and to return more than 1,800 market-rate apartments to rent regulation.