Rising rates leave REIT deals tumbling

Property purchases by real estate investment trusts are likely to be curtailed after nearly $36 billion of deals this year due to a tumble in share prices making a key source of capital costlier, Bloomberg writes. 

The Bloomberg REIT Index has dropped 11% from an almost six-year high in May as the yield on 10-year Treasury notes surged amid speculation the Federal Reserve would reduce bond purchases, which have kept borrowing costs low.

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3d rendering of a row of luxury townhouses along a street

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