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Blackstone Sells Student Housing Portfolio to KKR for $1.64 Billion
San Francisco Faces Economic Headwinds, Credit Outlook Downgraded
Nationwide Rents Stabilize, NYC Rents Up 20–26%
CRE Property Prices Fell 3% YoY, Yet Pace is Declining
The Newsletter

06 Jul

Good morning. Welcome back to CRE Daily!

RISING STAR

Blackstone Sells Student Housing Portfolio to KKR for $1.64 Billion

Blackstone Real Estate Income Trust (BREIT) is offloading its collection of 19 student-housing properties to KKR for a whopping $1.64 billion.

THE TAKEAWAY

San Francisco Faces Economic Headwinds, Credit Outlook Downgraded

San Francisco’s economic stability is on shaky ground, with S&P Global Ratings recently modifying the city’s debt outlook to “negative.”

THE TAKEAWAY

Nationwide Rents Stabilize, NYC Rents Up 20–26%

April saw stable national rents: one-bedrooms fell to $1,486, and two-bedrooms edged up to $1,843, with NYC spikes and North Carolina drops due to higher inventory.

THE TAKEAWAY

CRE Property Prices Fell 3% YoY, Yet Pace is Declining

The MSCI report highlights a 3.0% year-over-year drop in the RCA CPPI National All-Property Index.

THE TAKEAWAY

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