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Lennar Goes “Land-Light” with $6B Spin-Off and 105K Homesites
US Retail Closures Up 70%, Thousands More to Follow
Loan Modifications Surge as Banks Hit ‘Extend-and-Pretend’ Limits
Miami’s Rental Dominance Faces Midwest Competition
The Newsletter

06 Jul

Good morning. Welcome back to CRE Daily!

RISING STAR

Lennar Goes “Land-Light” with $6B Spin-Off and 105K Homesites

Lennar is launching Millrose Properties, a $6B spinoff REIT focused on land holdings, to implement its new asset-light strategy.

THE TAKEAWAY

US Retail Closures Up 70%, Thousands More to Follow

US retail closures surged 70% in 2024, driven by e-commerce competition and rising costs.

THE TAKEAWAY

Loan Modifications Surge as Banks Hit ‘Extend-and-Pretend’ Limits

U.S. banks are ramping up CRE loan modifications, especially smaller ones, as rising delinquencies and fading “extend-and-pretend” strategies hit a wall.

THE TAKEAWAY

Miami’s Rental Dominance Faces Midwest Competition

Miami retains its title as the nation’s hottest rental market, but surging Midwest metros like Suburban Chicago and Milwaukee are heating up.

THE TAKEAWAY

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