New York Real Estate Firm Invests $126 Million in Multifamily Portfolio
Clarion Partners, a New York-based Real Estate firm, has paid $126 million for a multifamily portfolio in Torrance, Calif. The details are unclear as to whether Clarion acquired part of the 422-units or if they bought into the joint-venture. In the initial 2017 purchase, Rockpoint Group and Strategic Housing Partners bought 506 units in Torrance for $178 million.
Additions Planned for New Hampshire Mixed-Use Community
Market and Main, a mixed-use community in Bedford, N.H. could expect to see 200 apartment units added. Earlier plans called for 290 units and a movie theater. Developers have since scaled back and released new conceptual designs. Town planners will review the new plans on January 13.
New Report by Zacks Downgrades Luther Burbank Corporation to “Hold”
In a new report from Zacks Investment Research, Luther Burbank Corporation stocks have been downgraded to “hold.” The bank holding company operates through subsidiary, Luther Burbank Savings. Headquartered in Santa Rosa, Calif., the company specializes in commercial banking services for real estate investors and commercial businesses.
Wilmington Planning Commission to Hear Zoning Changes
The City of Wilmington, N.C. has revealed a long-awaited plan for a workforce mixed-use housing district. The option allows developers to include workforce housing units or pay a fee in exchange to build a taller building, and eliminate city development fees. The amendments to a 2019 report will be heard next week by the Wilmington Planning Commission.
Charlottesville City Council Receives Improvement and Permit Requests
An emergency shelter grant and the Eviction Crisis act are two pressing issues on the agenda for Charlottesville City Council’s first meeting of 2020. Additional items up for approval are a private outdoor recreational facility and a conceptual design plan for the streetscape project at Fontaine Avenue.