The firm rolled $100 million from a cash-out refinance into the fund and raised an additional $150 million from investors.
Foreclosures are "artificially low" due to federal and state moratoriums and will significantly increase when those expire, but it’s unlikely default rates will reach the levels of the 2008 recession.
Since shelter-in-place ordinances began in February 2020, most condo markets have suffered a decline in transaction volume, and while median prices have remained close to pre-COVID levels, sales volume reductions indicate potential price declines.
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