Looking for pandemic pain and suffering to turn into a distressed bonanza in multifamily? Don't hold your breath, says BlackRock.
In a recent report that looked at multiple aspects of the US CRE markets, BlackRock noted that while all is not well with multifamily, looking for major distressed pricing could be a long wait.
The report pointed to the National Multifamily Housing Council rent payment tracker and that the figure of "apartment rent collections for market rate units during February 1st to 20th, 2021 was 89.4%, 2.5 percentage points lower than a year ago, which has combined with higher concessions in many markets."
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