Kennedy Wilson Partners with Hulic, Fuyo General Lease on San Jose Apartment Deal
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 78th San Francisco story tracked on the wire in October 2026. All San Francisco coverage →
- Disclosed multifamily deal value tracked in October 2026: $4.8B across 57 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Kennedy Wilso has closed on a three-party joint venture with Hulic Co., Ltd. and Fuyo General Lease (USA) Inc. to acquire One South Market, a 312-unit multifamily community in downtown San Jose, for $176 million. The…
External link. Real Estate Trail does not republish source content.
Related coverage — San Francisco · Multifamily
Institutional Buyers Top 50% of San Francisco Office Sales for First Time Since 2022 as Volume Hits $2.91B
For the first time since 2022, institutional buyers account for more than half of San Francisco's office investment volume this year, according to CBRE's Q3 2026 San Francisco office report, while private buyers have…
Affordable Housing Leaders to Reflect on 2026, Plan for 2027 at Novogradac Conference
Novogradac to Host 2026 Housing Tax Credit Finance Conference, Dec. 3-4 in Las Vegas SAN FRANCISCO, Oct. 14, 2026 /PRNewswire/ -- Affordable housing industry leaders will gather in Las Vegas to reflect on the developm…
San Francisco’s SoMa West Office Vacancy Sits at 19%, but Nearly 35% of Its Space Is Up for Lease
SoMa West's 19.1 percent office vacancy sits well below San Francisco's citywide rate, but 34.8 percent of its space is being marketed for lease, a 15.7-point gap that is the widest of any submarket Colliers tracks an…
Spark Social Opens $1MM, 75,000 SQFT Food Truck Park in San Jose’s Creekside District
San Francisco food truck operator Spark Social will open a 75,000-square-foot outdoor venue in San Jose's Creekside District on Oct. 9, a $1 million bet on a slice of Google's stalled Downtown West site that arrives s…
MSI Showcases Open Data Center and AI Infrastructure at 2026 OCP Global Summit
SAN JOSE, Calif., Oct. 13, 2026 /PRNewswire/ -- MSI showcases its open data center and AI infrastructure at the 2026 OCP Global Summit (Booth #A49), led by new 21-inch ORv3 systems and DC-MHS modular building blocks,…
Manna Capital Files Plans for 45-Story, 528-Unit Tower at 1601 Mission Street in San Francisco
Manna Capital files plans for a 45-story, 528-unit tower at 1601 Mission St. in San Francisco, replacing the Tower Car Wash with 80 affordable units. The post Manna Capital Files Plans for 45-Story, 528-Unit Tower at…