Analysis

Due to widespread job loss, more than 9 million Americans have racked up a rent debt bill.

The percentage of CMBS loans that are 121 days or more delinquent has stabilized at 2% for the last three months.

Expect a surge in evictions if Biden's $1.9 trillion American Rescue Plan doesn't pass.

Retail and lodging have been hit especially hard.

Rent deferral was the most popular option, followed by rent reduction, rent abatement, early lease termination, applying a security deposit toward rent and downsizing to a smaller space.

Portfolio restructuring is expected to be a bolder, more sustainable solution than mere rent relief.

The Tampa market has fared well through the pandemic, but at the end of the year, the market saw some softening in office leasing activity.

As companies reimagine WFH in a post-pandemic world, the Sun Belt and Mountain West may come out on top.