While there was more caution in the market in March, sales continued to close, according to Ten-X Commercial.
While many tenants were able to pay rent in April, continuing shutdowns mean more federal assistance might be necessary to help workers forced to stay at home.
Arne Sorenson said the company is working on new ways to protect hotel guests and workers.
COVID-19 has revealed a key weakness in discount retailers’ playbook: almost no e-commerce.
A handful of hotels are moving ahead with planned openings, reports The New York Times. Many U.S. landlords whose commercial tenants are asking for rent relief want proof of financial strain before delaying or forgiving payments, according to the Wall Street Journal. These are today’s must reads from around the commercial real estate industry.
An early trouble spot to surface has been among highly leveraged lenders who rely on short-term repo warehouse lines of credit.
Demand for self-storage properties was higher than usual in March, even as much of the U.S. economy shut down.
Charles Krawitz, vice president and head of commercial lending at Alliant Credit Union, is the guest on this edition of the Common Area podcast.
Wynn Resorts CEO Matt Maddox would like the Las Vegas strip to re-open in May.
Singapore’s data center REITs are benefitting from people staying at home.
Some investors raise concerns on rental revenue and occupancy rates, but the sector should be well-positioned over the long term.
The White House hasn’t provided a full accounting of where the money went or the logic determining who got it.
There may be upward pressure on yields as Treasury supply starts to swell.
Strip center tenants paid only between 30 percent and 50 percent of April rent, reported the Financial Times citing data from Green Street. Minnesota Congresswoman Ilhan Omar has proposed legislation canceling rent for people affected by COVID-19 that would instead be paid by the federal government. Shake Shack will return its $10 million PPP loan the chain announced in an open letter, reports Nation’s Restaurant News. These are among today’s must reads from around the commercial real estate industry.
While these are uncertain and volatile times, many commercial real estate businesses should be able to maintain operations and continue to provide valuable contributions to the economy.
The rise of social media and digital marketing within the broader real estate syndication market is all about enabling more voices to be heard.
The pandemic might permanently change some property sectors.
After lockdown, Chinese shoppers upped their spending at luxury boutiques, reports the Wall Street Journal. A white supremacist has tried to blow up a Jewish assisted living facility in Massachusetts, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.
MP Securitized Credit Partners posted a net return of 47.9 percent in March in its $162-million flagship vehicle.
McDonald’s is likely to take a big hit on income in 2020. But owning its real estate empire should be a big help.