Illustration: Carolina Moscoso
The Big Take
Real Estate Investors Are Wiped Out in Bets Fueled by Wall Street Loans
Syndicators made big purchases that are unraveling with high interest rates, adding distress to an already troubled US property market.
Lynn Nathe was growing tired of the meager gains from her family’s retirement account. In late 2021, she invested $200,000 with a company that was making 30% returns by buying the hottest ticket in global real estate: US apartments.
Now, she says, most of that money is gone.