Harvest, Stockbridge Win Approval to Raze Former GoPro Campus for 222 Homes in San Mateo
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. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
San Mateo's Planning Commission has cleared Harvest Properties and Stockbridge to raze the vacated GoPro headquarters and replace it with 222 for-sale townhomes and single-family houses, capping a rapid pivot from Pen…
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