CPT Is The Latest REIT To Exit California; CA Legislative Analyst’s Office Projects $35 Billion Annual Budget Deficit Over The Next Few Years; Wealth Tax Portends Exodus

The positive is reducing exposure from a heavily regulated state versus CPT’s broader Sunbelt investment focus – Alexander Goldfarb, Piper Sandler Camden Property Trust (CPT) – an $11 billion Apartment REIT – is the latest REIT to decide to exit the California real estate market. CPT will sells its 11 properties valued at approximately $1.5…