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    Yeah a big problem with all these mREITs is that they underwrite loans “collateralized” by commercial properties, but these properties are not developed yet. The value of the collateral is assumed to be the projected value of the finished development. So if someone along the line goes belly up, this causes a huge domino effect and blows up the debt instruments.

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      WeWork blowing up and potentially defaulting on a huge amount of office space can’t help the situation either.