New additions to distress in the industrial sector totaled $368.6 million in April, bringing total outstanding distress to $7.3 billion and total cumulative industrial distress to $8.8 billion this cycle. April’s totals included $88.4 million in assets taken back by lenders as REO. The pace of resolutions, at $37.9 million, was down significantly from prior months and restructurings remained modest at just $9.4 million. The total volume of workouts was $47.3 million for the month. Overall, the net increase to current distressed inventory for the month was $321.2 million.
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