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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.
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.
Renters have more reasons to leave the nation's urban cores and head to the suburbs; specifically, Dallas residents relocated to smaller nearby cities such as Richardson, Arlington, Irving and Plano.