Fears related to the potential global economic fallout from the coronavirus sparked a meteoric drop in the stock market last week, including a more than 4,000-point plunge in the Dow. Even as jittery global stock markets have worked to claw back from steep losses in trading this week, the question is how much of that contagion will spill over to impact commercial real estate?
Aspire REIT, an affordable housing real estate investment trust affiliated with Avanath Capital Management LLC, has confidentially filed for an initial public offering, according to people with knowledge of the matter. The affordable housing REIT is seeking to raise between $300 million and $500 million through an IPO.
Many smaller U.S. cities are experiencing downturns, reports the Wall Street Journal. Homebuilder ETFs gained ground in the wake of the Fed’s interest rate cut, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.
