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Single-Family Rent Growth Continues Gradual Recovery
The Sun Belt Is Seeing Some of the Biggest Rent Declines in America
BofA Buys $2.9B in Multifamily Loans From Washington Federal
Sternlicht’s $10B SREIT Faces Liquidity Crunch Amid Rising Redemptions
The Newsletter

06 Jul

Good morning. Welcome back to CRE Daily!

RISING STAR

Single-Family Rent Growth Continues Gradual Recovery

This marks two consecutive months with rent growth above 3.0%, signaling a steady recovery from an 18-month period of deceleration.

THE TAKEAWAY

The Sun Belt Is Seeing Some of the Biggest Rent Declines in America

Nine out of the ten U.S. metros with the steepest rent declines are in the Sun Belt, with Seattle being the only exception.

THE TAKEAWAY

BofA Buys $2.9B in Multifamily Loans From Washington Federal

Washington Federal Bank is selling billions in unpaid multifamily loans to Bank of America to reduce its CRE exposure.

THE TAKEAWAY

Sternlicht’s $10B SREIT Faces Liquidity Crunch Amid Rising Redemptions

The property fund teeters on the brink of running out of credit and cash by the end of the year.

THE TAKEAWAY

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