Mana Investment Pushes 116-Home Builder’s Remedy Project on Gilroy’s Hecker Pass Through Draft EIR
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
Carlsbad-based Mana Investment is using California's Builder's Remedy to force a 116-home subdivision onto 24 acres of Gilroy farmland, and the release of the project's Draft Environmental Impact Report marks the poin…
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