High Street Residential, Barings Announce Groundbreaking on 501-Unit Apartment Phase at Redwood City’s ELCO Yards
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 October 2026: $5.9B across 72 reported transactions. All Multifamily coverage →
- 8 stories mentioning Barings on the wire in the past 90 days. Barings coverage →
Computed from Real Estate Trail’s own tracked coverage
High Street Residential and Barings have started construction on two apartment buildings at Redwood City's ELCO Yards, moving the downtown district's long-delayed housing phase forward after the developers renegotiate…
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