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The price is a "meaningful discount to replacement cost."

It was a 10-year Freddie Mac senior loan.

And the 10-year Treasury calms at the prospect of lower short-term rates.

Harrison Street was the seller.

Trump is seen as good on taxes, but fixed-income investors have concerns.

Expect the Southwest and West to fare better but there is more to it.

More people are renting particularly in expensive cities like NYC and LA.

A continued housing shortage is driving multifamily.