Multifamily CRE Meltdown Keeps Getting Uglier

Multifamily CRE Meltdown Keeps Getting Uglier Authored by Wolf Richter via Wolf Street,There are about $2.3 trillion in multifamily commercial real estate (CRE) loans out there, backed by buildings with rental apartments. The US government, via Fannie Mae and Freddie Mac, holds about $1.2 trillion of that. Fannie and Freddie have become very aggressive multifamily CRE lenders. So, dear taxpayer, you're on the hook for about half of the multifamily CRE debt.The rest is held around the globe by banks, insurance companies, real estate funds, alternative asset managers - a melted-down mortgage just hit Bridge Investment Group, a unit of PE giant Apollo (more on that in a moment) - holders of Commercial Mortgage-Backed Securities...

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