Commercial real estate investors spent $53 billion on U.S. multifamily assets in the second quarter, setting a record, reports Real Capital Analytics.
The owners of the 3.3-million-sq.-ft. property used the reserves to make a $9.3 million August payment on $290 million of debt.
Major investors are pouring more and more money into these assets.
The deal to borrow $450 through mortgages backed by collateral from Zillow’s home-flipping business represents the first securitization by iBuyers.
The moratorium will apply to counties with high rates of coronavirus infections and last until Oct. 3.
The improving fundamentals in the sector are attracting multiple bids on available properties.
SVPGlobal raised $5 billion for the Strategic Value Special Situations Fund V to buy debt and equity in struggling companies.