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06 Jul
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RISING STAR
Austin Apt Rents Are Down, Leading Nationwide Declines
Austin’s apartment rents have taken a nosedive, leading the nation with a -7.4% year-over-year drop in April. Here’s why rents are falling.
THE TAKEAWAY
Lenders Race to Buy Back Delinquent Multifamily Mortgage Loans
As delinquencies mount in multifamily mortgages, lenders are racing to buy back CRE CLOs.
THE TAKEAWAY
$38B Worth of US Office Buildings Face Historic Defaults
A record-high $38 billion in U.S. office buildings face defaults and other distress, echoing the distress of the post-2008 financial crisis period.
THE TAKEAWAY
WeWork Secures $450M in New Funding to Exit Bankruptcy
WeWork has arranged approximately $450M in new financing to exit Chapter 11 bankruptcy without the involvement of its co-founder, Adam Neumann.
THE TAKEAWAY
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Office Vacancy Rate Nears 20% to Set Fresh Record
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