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Announced

Clarion Partners and Cityview to acquire Empire Landing for $161m.

Financials

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Transaction Value£119m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Real Estate

Real Estate Holding and Development

Acquisition

Majority

Private

United States

Domestic

real estate holding

Pending

Private Equity

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Synopsis

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Clarion Partners, a real estate investment manager, and Cityview, a multifamily investment management and development firm, agreed to acquire Empire Landing, a garden-style apartment community, for $161m. “Empire Landing is centrally located where urban and suburban environments converge in one of the most job-rich, high-growth economic areas of Southern California, often referred to as the ‘media capital of the world’. Modernizing this community will deliver Class-A style and amenities to a city demonstrating high demand for quality rental housing," Devang Shah, Cityview Managing Director.

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