The latest Net Lease Sector Update from Green Street offers further evidence to their previous concerns that credit losses are becoming an increasing problem.

Spenser Allaway, a senior analyst on Green Street’s research team and sector head of the Self-Storage and Net Lease sectors, and Harsh Hemnani, an analyst on the Net Lease and Ground Lease sectors, note that the first quarter closed out with credit losses reaching about 100 basis points annualized, in contrast to the 75-basis point HHAlllows of 2022.

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