PHILADELPHIA-The fundamentals in the city's multifamily rental market remain strong, even though the vacancy rate inches toward 3.5%, according to a research report by Encino, CA-based Marcus & Millichap's Philadelphia office. Fewer than 1,500 new units will reach completion this year.

PHILADELPHIA-Locally based Binswanger/CBB negotiates the sale of the Bucks County, PA property for an undisclosed price that local brokers tell GlobeSt.com was approximately $500,000. The buyer plans to open a Bucks County Beauty Supply store on the property.

PHILADELPHIA-A $26-million, eight-story addition to science labs at Pittsburgh's Carnegie Mellon, designed by locally based Burt Hill Kosar Rittelmann, opens this fall. Meanwhile, financing is secured for the architect's design for an 18-acre mixed-use, urban development along the Philadelphia riverfront.

ATLANTA-The 10-year loan has a 71% loan-to-value ratio at a 7.33% interest rate on a 30-year amortization schedule.

ATLANTA-Three Alabama banks team up with partnerships in four communities to provide $1 million to develop and rehabilitate 145 low-income and moderate-income housing units. The banks are members of Federal Home Loan Bank of Atlanta.

PHILADELPHIA-The fundamentals in the city's multifamily rental market remain strong, even though the vacancy rate inches toward 3.5%, according to a research report by Encino, CA-based Marcus & Millichap's Philadelphia office. Fewer than 1,500 new units will reach completion this year.

ATLANTA-The former vice president of construction services at Norcross, GA-based W.H. Bass Inc. will head day-to-day operations and manage new business development for Advantis.

ATLANTA-Chattanooga-based Astec Industries buys the plant, located on 108 acres in Loudon, TN, for a price estimated by local brokers as $3.4 million or about $11 per sf.