They combined for 55,000 in open violations.

In fact, net absorption fell to negative territory.

Covenant has deployed nearly $300 million in capital already across the two vehicles.

This comes as the new Mayoral administration shifts to rent control.

Yet, vacancy ticked up and rents plummeted.

However, apartments are filling up.

The two plan to start by spending $150 million this year in the sector.

The new space will be on the 32nd floor.