47bps is down 77bps from the 224bps YTD peak in mid-February • HY spread of 480bps is down 295bps from the 775bps YTD peak in mid-February Savo* Dante Sint laver DB REIT coverage trading at a 7.1% discount to consensus NAV meaningfully below the 5.0% premium seen in July 'Figure ID: to/real premium/d