Short seller Carson Block warns about Sun Belt apartment debt - report

seekingalpha11-21 23:48

KonoplytskaCommercial real estate distress isn't over, short seller Carson Block, according to a media report on Thursday. Debt tied to apartment complexes in the Southeast U.S. is "the shoe that hasn...

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Debt tied to apartment complexes in the Southeast U.S. is \"the shoe that hasn...</p>\n\n<a href=\"https://seekingalpha.com/news/4317284-short-seller-carson-block-warns-about-sun-belt-apartment-deb\">Source Link</a>\n\n</div>\n","source":"seekingalpha_trending_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short seller Carson Block warns about Sun Belt apartment debt - report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort seller Carson Block warns about Sun Belt apartment debt - report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 23:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4317284-short-seller-carson-block-warns-about-sun-belt-apartment-deb><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KonoplytskaCommercial real estate distress isn't over, short seller Carson Block, according to a media report on Thursday. Debt tied to apartment complexes in the Southeast U.S. is \"the shoe that hasn...</p>\n\n<a href=\"https://seekingalpha.com/news/4317284-short-seller-carson-block-warns-about-sun-belt-apartment-deb\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CFA.SI","symbol_name":"NikkoAM-STC Asia REIT","start_time":0,"source_url":"https://seekingalpha.com/news/4317284-short-seller-carson-block-warns-about-sun-belt-apartment-deb","article_id":"2485041652","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1644622448/image_1644622448.jpg?io=getty-c-w750"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485041652","pubTimestamp":1732204091,"sourceInfo":{"source_id":"seekingalpha_trending_news","name":"Seeking Alpha Trending News"},"weMediaInfo":null,"summary":"KonoplytskaCommercial real estate distress isn't over, short seller Carson Block, according to a media report on Thursday. Debt tied to apartment complexes in the Southeast U.S. is \"the shoe that hasn","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CFA.SI":"NikkoAM-STC Asia REIT","BK4588":"碎股","IRT":"Independence Realty Trust Inc","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BRSP":"BrightSpire Capital, Inc.","BK4503":"景林资产持仓","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK7095":"多种金属与采矿","BK4551":"寇图资本持仓","ABR":"阿伯房地产信托","BK4581":"高盛持仓","BK4110":"抵押房地产投资信托","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","EQR":"资产住宅公司","BK4528":"SaaS概念","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","BK4106":"数据处理与外包服务","BK4554":"元宇宙及AR概念","AVB":"阿湾物产","STWD":"Starwood Property Trust Inc","BK4215":"住宅房地产投资信托","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4585":"ETF&股票定投概念","EQR.AU":"EQ RESOURCES LTD","BK4227":"交易和支付处理服务"},"translate_title":"卖空者卡森·布洛克对阳光地带公寓债务发出警告-报告","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVB":1,"IRT":1,"EQR.AU":1,"EQR":1,"STWD":0.9,"ABR":0.9,"BRSP":0.9,"CFA.SI":0.85},"content_text":"KonoplytskaCommercial real estate distress isn't over, short seller Carson Block, according to a media report on Thursday. Debt tied to apartment complexes in the Southeast U.S. is \"the shoe that hasn't really dropped yet, but we think will,\" he said in an interview with Bloomberg News. Investors increased exposure to the multifamily market after interest rates dropped dramatically during the pandemic, making the bet that work-from-home trends would boost rents. Some of the biggest beneficiaries were cities including Austin, Tampa, and Nashville. Almost $76B of apartment complex loans are at risk, Bloomberg said, citing MSCI Real assets, as landlords took on floating-rate loans to renovate properties. Since then, rates have risen markedly to the highest borrowing costs in decades. \"A lot of these things were purchased with ultra-cheap money,\" Block  said in the interview. Now, \"financing costs are massively up.\" Much of the risk has moved to Wall Street, as debts were packaged into commercial real estate collateralized loan obligations. The percentage of those instruments that are under some form of distress stands at more than 12%, Bloomberg said, citing CRED iQ. Block didn't mention specific companies during the interview. Some stocks that have exposure to multfamily debt include Arbor Realty Trust (NYSE:ABR), Starwood Property Trust (NYSE:STWD), and Brightspire (NYSE:BRSP). ABR stock slipped 0.3%, STWD +0.5%, BRSP +0.9% in Thursday morning trading. Apartment REITs are trading in the green. Equity Residential (EQR) +0.9%, Independence Realty Trust (IRT) +1.2%, and AvalonBay Communities (AVB) +1.0%.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485041652"}