Multifamily transaction activity has fallen sharply in 2020 due to the fallout from COVID-19.

Situated adjacent to Apple's future $1 billion campus, which will initially house 5,000 employees, the 129-acre 7700 Parmer site is currently home to a wide range of tech companies.

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.