Now that the economic picture is becoming less cloudy and there is a clear path to vaccine distribution, there is more insight to be gleaned from the updated servicer appraisals that started to trickle in last month, according to Moody's Analytics REIS.

REIS examined the servicer commentaries. Although a mixture of forbearance and foreclosure was mentioned, it found that there was a clear leaning towards forbearance on lodging properties versus a leaning towards foreclosure for retail.

"These comments and data support the economic narrative that while hotels have a better chance of 'returning to normal' over the next few years, retail is going through a structural change," according to REIS.

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to and Real Estate Forum.