From Quiver Quantitative:

Mortgage real estate investment trust (REIT) JER Investors Trust Inc. has filed for Chapter 11 bankruptcy protection due to a debt of $100 million and assets valued at less than $50 million. The real estate sector struggles with rising interest rates and the impact of the COVID-19 pandemic. JER’s portfolio of mortgage-backed securities and commercial real estate debt faced pressure as interest rates surged throughout 2023. The bankruptcy filing by JER showcases the trend of distressed real estate firms and foreshadows potential filings in the sector. C-III Capital Partners and The Bank of New York Mellon Trust are significant creditors in JER’s bankruptcy case, filed under case number 23-12109.



Read more: JER Investors Trust Inc. Files for Bankruptcy Amid Commercial Real Estate Crisis