Mortgage REIT sector rotation is underway as investors shift from high-volatility retail assets to office leasing finance plays. Boston Properties (BXP) rebounded 4% after strong lease renewal data, suggesting that the financing outlook in urban markets is strengthening. Manhattan developer Meyer Chetrit has been indicted on felony charges of tenant harassment tied to his Chelsea property at 117-119 West 26th Street. Prosecutors allege Chetrit and a co-defendant subjected two rent-regulated tenants in their 70s to unlivable conditions in a bid to push them out. Although home sales in August mostly underwhelmed, dropping 0.2% from July and increasing a modest 1.8% from a year earlier, sales at $1 million or above were up 8.4% from a year ago, according to National Association of Realtors data. Analysts tracking the real estate finance sector note that REITs with strong cash flow and low leverage are outperforming in Q2
