REDWOOD CITY, CA—While the Bay Area remains in lockdown mode, industry experts are putting stock in the multifamily sector's durability. Most are betting that tech firms will eventually bring workers back into office space.

One property is on the receiving end of that optimism. A 90-unit multifamily asset Encore was recently sold to an undisclosed buyer. The property located at 855 Veterans Blvd. was built, leased and managed by Sares Regis Group of Northern California and its affiliate companies.

"It's been rewarding for us to watch the Encore community form and grow over the years, from construction to leasing," says Jeff Smith, senior vice president of Residential Development at Sares Regis Group of Northern California. "Since the start of the project in 2016, we've worked hard to build and deliver this beautiful community for the benefit of its residents and the surrounding neighborhood, and we are confident that it will be in good hands moving forward."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.