Apartment complex eyed on site of former Century 24 domed movie theater in San Jose
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The seventh San Francisco story tracked on the wire in November 2026. All San Francisco coverage →
- Disclosed multifamily deal value tracked in November 2026: $807M across 10 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
External link. Real Estate Trail does not republish source content.
Related coverage — San Francisco · Multifamily
Modular Apartment Complex Proposed for 3070 Brook Street, Oakland
Entitled 105-Unit Apartment Site at 111 Independence Drive in Menlo Park Hits Market for $13.5MM
The 105-unit Menlo Park project, still waiting on a building permit filed in 2022, is up for sale as Bay Area apartment deliveries fall to their lowest level in more than a decade and Peninsula rents rise 6 percent to…
Omen AI Acquires Aquatic Labs, Bringing Ocean-Sensing Expertise to Automate Data Center Cooling
Founder Allan Adams and his team join Omen AI to develop new sensors and help cooling systems monitor and maintain their own fluid. SAN FRANCISCO, Nov. 2, 2026 /PRNewswire/ -- Omen AI, a startup bringing continuous fl…
Google Prepays $150MM for PG&E Grid Link to 250MW Building at Meadow Point Campus in North San Jose
Google has agreed to hand PG&E $150 million up front to wire a 250-megawatt building now rising at its Meadow Point campus in North San Jose, a prepayment that arrives as state regulators prepare to rule on the utilit…
Bezos-Backed Prometheus Said to Take All 180,000 SQFT of Sobrato’s One Harrison on San Francisco’s Waterfront
Jeff Bezos’ heavily funded AI startup Prometheus has reportedly leased every floor of The Sobrato Organization’s freshly renovated One Harrison, the former Gap and Athleta office on San Francisco’s waterfront, a deal…
Wells Fargo Closes $82MM Construction Loan for Eden Housing and Black Cultural Zone’s 119-Unit Liberation Park in East Oakland
Wells Fargo has closed an $82 million construction loan and committed $57 million in Low-Income Housing Tax Credit equity to the Residences at Liberation Park, finally moving Eden Housing and the Black Cultural Zone C…