Development

CPP buys a 180-unit building in Torrance for $73 million, and plans a $10 million renovation.

Meeting Oakland Green requirements, the Jack London Square site will become 157 multifamily units over ground-floor retail encompassing 94,993 square feet, and include a public art installation and amenities.

Oregon has 834 census tracts, more than 300 of which were eligible by meeting the definition of a "low income community" in terms of median family incomes or poverty rates, and Governor Brown's nomination resulted in 86 QOZs.

Construction is underway on the Zoey, a $59 million multifamily development which marks The Michaels Organization's first entrance into the Austin market, one of the fastest-growing cities in the country.

Real estate services firm Cushman & Wakefield has appointed commercial real estate veteran Pay Wu as the New York Tri-State Regional Lead for Global Occupier Services.

Madison International Realty, a real estate private equity firm, has closed its commingled investment fund the Madison International Real Estate Liquidity Fund VII, with $1.2 billion of equity commitments, including sidecars, co-investment vehicles and general partner commitments.