Multifamily

SPV Realty is within its right to have filed 29 eviction suits at its Design Place apartments amid the pandemic as the state moratorium was lifted. But residents and a nonprofit law firm say the push to evict struggling tenants doesn't match the company's promise to accommodate residents at its proposed Eastside Ridge project.

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 developer is bullish on growth in the Inland Empire, and plans ante up with a tech infusion in its current developments.

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

The acquisition is a key step in Marcus & Millichap's capital advisory platform expansion.