Harrison Street, Michaels Partner with University of San Diego on $230M Student Housing Development
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. San Diego life sciences vacancy remains the lowest in the major life-science clusters, and multifamily fundamentals continue to be supported by a coastal supply ceiling. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 15th San Diego story tracked on the wire in September 2026. All San Diego coverage →
Computed from Real Estate Trail’s own tracked coverage
SAN DIEGO — Harrison Street Asset Management and The Michaels Organization have announced a public-private partnership (PPP) agreement with the University of San Diego (USD) for the development of Presidio Terrace Apa…
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