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https://www.wsj.com/articles/houston-apartment-owner-loses-3-200-units-to-foreclosure-as-multifamily-feels-the-heat-fb3d0e75

Houston Apartment Owner Loses 3,200 Units to Foreclosure as Multifamily Feels the Heat

Building values are falling, interest rates are rising and rent growth is slowing

The Reserve at Westwood is one of the complexes Applesway lost to foreclosure.Photo: EagleView
By Will Parker
 and Konrad Putzier

An apartment-building investor lost four Houston complexes to foreclosure last week, the latest sign that surging interest rates are beginning to upend the multitrillion-dollar rental-housing market.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.