City Center on 7th is within walking distance to a mix of retailers, restaurants and entertainment venues.

"The elbow grease required to convert distressed assets to their highest and best use has drawn notice from a different investor pool."

Meanwhile, states like Arizona and Florida continued to be popular destinations for workers decamping from larger coastal MSAs.

Agency and GSE portfolios and MBS saw their holdings of commercial/multifamily mortgage debt increase by $23 billion, or 2.8%.