About 3,000 fewer drugstores were open for business at the start of this year compared with the same period in 2019.

Starwood Real Estate Investment Trust is running low on liquidity as spooked investors pull money amid rising debt costs and fears over real estate valuations. The Starwood Trust, owned by private real estate investor Starwood Capital Group, has borrowed more than $1.3 billion from its $1.55 billion unsecured credit facility since the beginning of 2023 due to high redemption demands.

As of April, $19.9 billion in office CMBS loans will mature by next spring. That’s a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. Outside of the CMBS universe, $929 billion — or 20% of the $4.7 trillion in outstanding commercial mortgages across all CRE lender types — will mature in 2024, a 28% increase from $729 billion that matured last year.

Developers are building new houses for rent at an unprecedented rate, aiming to capitalize on the steep home prices and higher mortgage rates that are forcing many Americans to keep renting. In 2023, 93,000 new single-family homes for rent were completed, 39% more rental homes than in 2022, and the most in any year ever.

Walmart has worked to cut costs over the past year in some areas as it gives priority to spending elsewhere. Last month the company said it would shut all 51 of the health clinics it has opened over the past five years as it tried to build a bigger healthcare business.

In Miami, about 38% of the housing stock is condos, the highest of any major metropolitan area in the U.S. Of those buildings, nearly three-quarters are at least 30 years old. For those that have large repairs looming, many owners are scrambling to sell before Jan. 1 when building reserves must be fully funded to be in compliance with the law.

Mortgage rates climbed for most of 2023, at one point reaching nearly 8%—a level not seen in two decades before dropping closer to 6.5%. In 2024, after falling a bit in early March, mortgage rates are now back above 7%.

The downtown Manhattan availability rate—which includes vacancy and space coming on the market in the next 12 months—increased to 21.3% in the first quarter, compared with 10.3% in early 2020. Average asking rents have fallen to about $57 a square foot from more than $65.

As more retail activity goes online with Ecommerce and given the fact that the U.S. is over retailed, mall owners/developers are looking for ways to revitalize and monetize their real estate by adding multifamily to create a mixed-use environment. One of the main drivers of this effort is parking reduction, as developers and retailers have come to the realization that most shopping centers are over parked.

Investors of all sizes spent billions of dollars buying homes during the pandemic. At the 2022 peak, they bought more than one in every four single-family homes sold, though more recently their activity has slowed as interest rates rose and supply became tighter.