ATLANTA-Locally based DEL Development obtains an interest-only, floating-rate, 35-month mortgage for Lakeshore Apartments at a starting rate of 4.05%. The 24-year-old, 244-unit property is 90% occupied. DEL's renovation will reduce it to 196 units.

PHILADELPHIA-Despite Keystone Opportunity Zones status, many Philadelphia County second- and third-generation industrial buildings lose ground to more up-to-date facilities in surrounding counties. The metro market remains flat, according to a second-quarter report.

ATLANTA-The Birmingham, AL-based REIT's offering totals $100 million. The proceeds will be used to retire a $57.5-million medium-term note that matures this month and pay down the company's line of credit. The securities mature in 2012.

ATLANTA-The Charlotte-based firm names Marvin E. Brown of Eagle North America and Jerry D. Craft of InfiCorp Holding to its board of directors, expanding it from five to seven and increasing its proportion of independent directors to 70%.

PHILADELPHIA-Conversion of the 1925 Georgian Colonial Revival-style, former Insurance Co. of North America building is complete. Located at Arch and 16th Streets, the 20-story landmark contains 267 rental units ranging from $1,195

PHILADELPHIA-In a three-property transaction, Newton, IA-based Maytag Corp. breaks ground on a 390,000-sf, build-to-suit distribution center in Scranton, PA and acquires a leasehold interest on a 230,000-sf property in Pittston,

ATLANTA-The average monthly rent is $711, unchanged from a year ago, according to a second-quarter report by the locally based office of Grubb & Ellis/Centennial. New construction is at the lowest level since 1994, and concessions run deep.

ATLANTA-Subleased space represents 23.3% and 23.5% of total available office space in Atlanta and Nashville respectively, and hovers just below the 24% total surplus of sublease office space nationwide, according to a new report by Grubb &Ellis/PNC Real Estate Finance.