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The nontraded REIT paid out more than $2.8B in dividends over 2023 but only brought in $2.7B in cash flow.
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The move comes after the nontraded REIT recorded its worst year for annual returns in 2023.
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Hines is moving into new sectors in the UK, driven by supply-demand dynamics.
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Blackstone Real Estate Income Trust's returns fell well short of the 5% annual gain mark that would enable it to take a share of profits.
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ElmTree Funds, Fortress Investment Group and Morgan Stanley are in various stages of gearing up to sell stock in new REITs not linked to the larger market.
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Wesley LePatner will take over the $56B nontraded REIT after CEO Frank Cohen retires at the end of the year.
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High interest rates and upcoming maturities were expected to produce distress, but the number of modifications more than doubled instead.
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This quarter $20.5B of office, multifamily and other property was seized, the highest figure in nearly a decade.
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Recent acquisitions from Blackstone and KKR show multifamily investment momentum picking up, and capital markets are listening.
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Big banks' off-balance sheet exposure to CRE has more than tripled since 2013.
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