Since acquiring the property nearly five years ago, Sares Regis repurposed an obsolete strip mall and parking lot into 90 apartments that support Redwood City's need for housing, including seven affordable units.

The bill extends temporary relief from Troubled Debt Restructuring under the CARES Act for an additional year, to January 1, 2022.

Distress levels should pass those seen in The Great Recession.

Although various stay-at-home orders affected retail investment sales in the early days of the pandemic, insurance companies and local bank lenders kept capital at the ready for retail refinances.