Embrey to Raze Alamo Heights Rental Units, to Build 296 New Ones
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. 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
- Disclosed multifamily deal value tracked in September 2026: $11.6B across 138 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
The Alamo Heights City Council has agreed to Embrey’s plan to tear down the 105-unit Treehouse Apartments and replace them with a five-story project called Grove Place. The project, which will have nearly 300 units, w…
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