Invitation Homes Plans New Joint Venture. What Does This Mean for Investors?

Founded during the Great Recession, Invitation Homes (NYSE: INVH) has slowly expanded its portfolio of single-family rental homes across the United States since 2012. It now owns and operates 80,000 homes across 16 markets and is the largest operator of single-family rental homes in the country.

With some analysts forecasting we could see an uptick in foreclosures and distressed homes next year, is there an opportunity for Invitation Homes to purchase more homes and grow its portfolio? The company seems to think so. It recently announced it has formed a $375 million joint venture with Rockpoint Group to acquire single-family homes and operate them as rentals. Invitation Homes will contribute $75 million, and Rockport will put in $300 million. But that’s just the start. The joint venture eventually plans to deploy over $1 billion to buy and renovate homes in the West and South, where Invitation Homes is already strong.

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The St. Joe Company Announces Plans for a New 240-Unit Apartment Community in Panama City, Florida

PANAMA CITY BEACH, Fla.–(BUSINESS WIRE)–Oct 8, 2020–

The St. Joe Company (NYSE: JOE) (“St. Joe”) today announces plans for a new 240-unit apartment community in Panama City, Florida. St. Joe intends to develop and construct the community on Star Avenue approximately one mile from State Road 231. This location is within the municipal limits of the city of Panama City.

Plans call for the project to include 108 one-bedroom apartments, 108 two-bedroom apartments and 24 three-bedroom townhome-style apartments. “One of the things that will make this project unique is the diversity of the units available for lease,” said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. “The three-bedroom townhome-style units will feature garages making them ideal for working families. This location is along the growing State Road 231 corridor in Panama City and is approximately one mile from the neighborhood’s elementary and middle schools and is

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Takara Bio plans revamp of north San Jose campus

SAN JOSE — Takara Bio USA, on the heels of its purchase this year of two big office buildings in north San Jose, has crafted plans to create a campus on its newly bought property.

The company is eyeing the development of an enclosed courtyard that effectively will create a unified complex and a link between the office buildings the company bought in May in north San Jose, according to preliminary plans on file at the city Planning Department.

The development proposal also calls for the construction of two canopies. One canopy will be built at what will be the main entrance for the evolving mini-campus. The other will be at a staff entrance.

The efforts are a reminder that some tech and biotech companies don’t necessarily intend for their employees to work from remote locations on a permanent basis, despite the uncertainties ushered in by the coronavirus.

Takara Bio

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Trump plans to take part in next presidential debate, spokesman says

WASHINGTON—U.S. President Donald Trump plans to take part in next week’s scheduled presidential debate with his Democratic rival Joe Biden despite his coronavirus diagnosis last week, a spokesman told Fox News late Monday.

“The president intends to debate,” Tim Murtaugh told the broadcaster less than an hour after Trump left the Walter Reed medical center, where he had been receiving treatment for COVID-19.

The second debate, during which the candidates are to answer questions from voters, is set to take place on Oct. 15 in Miami.

There have been concerns that Trump may have been infectious at his first debate with Biden last week, when the pair stood six feet apart. Both men are in their 70s and in the high-risk category of those who become infected with coronavirus because of their age.

Biden has repeatedly tested negative for the virus in recent days and has said he is willing

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Australia plans big spending pandemic measures, record debt

CANBERRA, Australia – The Australian government Tuesday will reveal a big spending financial blueprint for the next few years that will drive business investment and job creation while repairing pandemic damage to the economy, the treasurer said.

The government is also expected to accrue record debt in the current fiscal year that ends on June 30, 2021, Treasurer Josh Frydenberg told reporters.

“I will lay out our economic recovery plan to rebuild the Australian economy and secure Australia’s future,” he told reporters.

Budget plans usually delivered in May were delayed this year due to the economic uncertainty created by the coronavirus pandemic. The forecasts assume a COVID-19 vaccine will become available next calendar year.

“Our plan will create jobs. Our plan will create opportunity. Our plan will drive investment. Our plan will grow the economy and guarantee the essential services Australians rely on,” Frydenberg said.

The annual budget is expected

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NeighborWorks plans new Boise affordable housing. Recent project had homes in low $200,000s

A Boise nonprofit that has created several pocket neighborhoods with affordable housing has plans for its most visible development yet.

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NeighborWorks Boise is looking to build 39 single-family homes — seven detached and 32 attached residences — at the southwest corner of the old Cole Elementary School property, located at Cole and Fairview roads. The project, known as ColeBluff Cottages, would features homes with one to three stories, two to four bedrooms, and square footage between 816 and 1,998.

Each home would have two to four bedrooms and be 816 square feet to 1,998 square feet. Plans for the complex include 16 garages and 55 parking spaces — 25 covered and 30 uncovered.

“We are really excited about this project and to the degree we can honor the site with some our our architecture and different features, remembering what was once there,” Neighborworks CEO Bud Compher told the

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LGI Homes Reports Record-Breaking September and Third Quarter 2020 Home Closings and Announces Plans to Host Third Quarter 2020 Earnings Call

THE WOODLANDS, Texas, Oct. 05, 2020 (GLOBE NEWSWIRE) — LGI Homes, Inc. (NASDAQ: LGIH) today announced 811 home closings in September 2020, up from 654 home closings in September 2019, representing year-over-year growth of 24.0%. In addition, the Company announced record-breaking quarterly home closings of 2,091 during the third quarter of 2020 compared to 2,003 home closings in the third quarter of 2019, a 4.4% increase year-over-year. The Company finished the first nine months of 2020 with a total of 5,931 home closings, a 14.6% increase over 5,175 home closings during the first nine months of 2019.

As of the end of September 2020, the Company had 110 active selling communities.

The Company expects to release financial results for the third quarter ended September 30, 2020 before the market opens on Tuesday, November 3, 2020. The Company expects to hold a conference call for investors

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Hong Kong murder suspect plans to turn himself in to Taiwan

HONG KONG – A Hong Kong murder suspect, whose case led the government to attempt to pass an extradition bill last year that sparked massive protests, is expected to return to Taiwan this month to answer the charges of killing his girlfriend.

Chan Tong-kai, who is accused of killing his pregnant girlfriend Poon Hiu-wing in Taiwan in February 2018 before fleeing back to Hong Kong, said Friday that his lawyer was arranging for his return to the self-ruled island.

In a voice recording released to media, Chan apologized to the Poon’s parents.

“My determination to go back to Taiwan and hand myself in has never changed, please do not worry,” Chan said in the recording.

When Chan returned to Hong Kong in 2018, he was charged with money laundering for taking Poon’s money and valuables, and served a prison sentence before being released in October last year.

However, he could

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Developer wants to build 300 homes in far west Dallas; neighbors have concerns over plans

Tricor Homes is asking the City to rezone a 45-acre lot in order to build The Village of Eagle Ford. Some neighbors say they have concerns about the housing plan.

A proposed housing development planned for an area in far West Dallas has some neighbors concerned and asking questions.

Representatives from Tricor Homes held a meeting with residents from three neighborhood associations on Thursday. That meeting was held on the basketball court outside Jaycee Zaragoza Recreation Center, with chairs spaced apart for social distancing.

Joel Thomas, director of development for Tricor Homes, led the meeting. He says the project is called The Village at Eagle Ford.

Thomas explained the developers are working to rezone a 45-acre site at the northwest corner of Gallagher Street and Iroquois Street from light industrial to clustered homes. The group told neighbors they want to build about 300 one-story homes that will blend with the

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Chapel Hill movie theater for sale. Here’s what the pending owner plans for the site.

One of Chapel Hill’s last chain movie theaters might not reopen post-COVID if a Cary developer moves ahead with plans for a new medical office.

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Regal Timberlyne, which opened in 1993, is one of 18 Regal Theatre locations in North Carolina. Other Triangle locations are in Raleigh, Cary, Garner and Apex.

The six-screen, 1,350-seat theater, located at 120 Banks Drive near the Timberlyne shopping center, closed in March when the state shut down to stem COVID-19 infections. The state has not yet lifted its restrictions on movie theaters.

Online postings show Foundry Commercial had listed the theater property for sale in January. Cary-based Parkway Holdings Phase 2 LLC plans to close on the property in December, so it’s unlikely the theater will reopen, Parkway Holdings manager Eli Zablud said.

Regal Theatre officials did not return a phone call seeking comment.

Parkway Holdings representative, TMTLA Associates, submitted a concept

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