Features

The deal closed as the coronavirus swept the US, forcing participants to do workarounds.

PBV Logistics Center purchased the multi-building center in a 1031 exchange following its disposition last month of a 526,320-square-foot industrial property in Winston-Salem, NC.

Investors are poised to take precaution on portfolio decisions amid frozen market supply and demand because of the coronavirus pandemic, which has left businesses shuttered and a large number of tenants short on rent payments. As a result, borrowers are strained to make loan payments, which they fear could go into default.

It is a mistake to approach a landlord opportunistically with a rote form letter, says Vestian Chairman Michael Silver.

Most contracts allow for both the developer and the contractor to exit the agreement, but include specific provisions and potential payments to do so.

Landsea Homes has acquired the final 34 homesites at Wilder, a residential community in Orinda, and development is expected to begin this year with the anticipated grand opening in early 2021.