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“It has become hard to generalize,” Christopher LaBianca of UBS Real Estate Investments said about asset performance and capital availability in a digital conversation last week hosted by George Smith Partners. The conversation—called Non-Recourse CMBS Loans in the Time of COVID—included Mark Fluent of Deutsche Bank Corporate Bank, Tammy Goldfisher of The Henley Group and Matthew Lefkowitz of Crown Properties International. The panelists agreed that hotel and retail properties were suffering more than office and multifamily, but added that there are other determining factors.

Lefkowitz gave portfolio overview, although he could not comment on hotel or industrial asset performance. “We have seen some issues with high street retail in Manhattan, where there has just been zero rent payment,” he said. “Those stores are unable to open and mandated to stay closed. The same goes for gyms and restaurants. Grocery-anchored shopping centers have done better. We have seen collections there in the 75% range.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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