Clarion Partners and Cityview have acquired Empire Landing in Burbank for $161 million in a joint acquisition. The apartment community has 276 units, including 41 three-story townhouses, the only townhouse rental options in the Burbank market.

The partnership is planning a capital improvement plan to renovate the common areas, amenities, which include a pool deck, fitness center and clubhouse, and the interior units. The latter includes upgrades to both the design and finishes of the units.

Burbank is among the strongest multifamily submarkets in the Los Angeles area. It is driven by a strong job center. Empire Landing is located near 10 million square feet of primarily class-A office space housed predominantly by media companies, including 16 animation studios, 15 television and broadcasting networks, eight record labels and 10 motion picture studios, according to information from Clarion Partners and Cityview.