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Everything is on the Table As Tenants and Landlords Talk About Rent Relief
Erika Morphy | April 03, 2020
Taking a hardball attitude with a landlord could backfire on the tenant.
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Multifamily Rent Increases Decelerate as the Season Starts
Erika Morphy | April 03, 2020
Meanwhile, NMHC is going to start weekly tracking of the number of people who have paid their rent.
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Regulators Will Be Watching Rents, Retail Prices
Les Shaver | April 03, 2020
If the situation gets really bad, regulators could ask if companies are violating the law if they don’t downwardly adjust their prices.
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Coronavirus Leads to Tough Landlord-Tenant Negotiations
Les Shaver | April 02, 2020
Sometimes it’s easier to work with a tenant in trouble than starting all over.
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Where the Job Losses Are
Erika Morphy | April 02, 2020
The good news is that the states and metros hit hardest will generally be among the fastest growing over the ensuing recovery.
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That Rent Concession Could Trigger A Loan Liability
Erika Morphy | April 02, 2020
Some loan documents restrict amendments impacting financial components of leases such as rent amounts, according to Morris, Manning, & Martin.
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Is Construction an Essential Service?
Kelsi Maree Borland | April 03, 2020
With local municipalities regulating essential services, many developers are trying to figure out if they can carry on with construction.
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Self-Touring Technology ‘Has Become a Necessity’
Kelsi Maree Borland | April 03, 2020
The self-touring trend erupted last year, but with social distancing measures, it is crucial to apartment leasing.
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US Housing Deficit Could Grow Due to Coronavirus
Kelsi Maree Borland | April 02, 2020
The economic disruption could amplify anxieties about homeownership for millennials.
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Real Estate Firms Create Forum To Navigate Coronavirus, Capital Improvement Exploration
Mariah Brown | April 03, 2020
The coronavirus pandemic has brought some commercial real estate stakeholders together as some create forums to maintain an ongoing dialogue about the impacts companies are facing and best practices being utilized to navigate uncertainties.
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KAR Properties Leans on Data Analytics, Tends Hindrances to Mortgage Service
Mariah Brown | April 03, 2020
KAR Properties is monitoring all data in regards to the unraveling of some of the sectors of the economy and the reaction to the coronavirus pandemic, also known as COVID-19, and its tenants in the ability to honor lease agreements and meet rental payment guidelines.
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One NYC Office Landlord Prepares to Support Tenants Amid Delinquent Rent Payments
Mariah Brown | April 02, 2020
"The truth is, all of us will need to take a haircut in this unnerving time."
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Hospital Designs Quickly Evolve to Meet Coronavirus Pandemic
Tanya Sterling | April 01, 2020
Most states are now requiring hospitals to develop surge plans in anticipation of the number of patients they will be seeing in the weeks and months ahead.
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Landlords Offer Digital Amenities As the Coronavirus Empties Offices
Erika Morphy | April 01, 2020
“The in-person experiences we normally provide for office tenants and shoppers around the country have to reach people another way.”
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NAI Executives Report from the Front Lines of the Coronavirus
Erika Morphy | April 01, 2020
One received notice from one nationally branded fitness studio “that essentially amounted to a demand – that they would not be paying rent for 12 months, like it or not.”
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Fast-food Chains Give Franchises Rent Deferrals, Other Assistance
Erika Morphy | March 31, 2020
Burger King, McDonald’s and Wendy’s have all taken steps to assist franchise owners.
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CRE Loan Defaults Soar Under Trepp Stress Test But Won’t Be as Bad as Great Recession
Erika Morphy | April 01, 2020
Under the scenario Trepp used, the cumulative default rate across commercial mortgages overall will rise to 8%, up significantly from the current 0.4% default rate.
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As Restaurants Turn to Delivery, Which Will Come Out on Top?
Les Shaver | March 31, 2020
Having a track on mobile apps can go a long way in tough times.
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The Cares Act Can Also Reduce Tax Liability For Real Estate Firms
Erika Morphy | March 31, 2020
The $2 trillion economic stimulus package passed last week can reduce current tax liabilities and provide cash to taxpayers with net operating loss carrybacks.
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How to Screen for the Coronavirus at Your Property Without Breaking the Law
Rob Plowden and Warren Smith | March 31, 2020
For the country to take the threat of COVID-19 seriously, the owners and managers of sites must consider serious measures to combat the further spread of the virus.
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Retail Landlords Brace for Missed Rent Payments
Erika Morphy | March 30, 2020
Taubman Centers has sent a letter to tenants informing them that they have to make their payments on time.
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Construction Project Cancellations Rose Sharply Last Week
Erika Morphy | March 30, 2020
The Associated General Contractors of America also reports that 45% of respondents reported delays in deliveries and supplies.
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What Can Employers Ask and Disclose About the Coronavirus? EEOC Has Answers.
Mike Scarcella | March 30, 2020
The federal agency has posted a 45-minute webinar responding to a range of inquiries about privacy and disclosure, national origin and age discrimination, pregnant employees and other matters.
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Will Affordable Housing Maintain Stability in This Downturn?
Kelsi Maree Borland | March 30, 2020
Affordable housing is known for its stability during economic disruption, but this downturn doesn’t look like anything seen before.
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Stock Markets Turbulence Doesn’t Weigh on REIT CEO
Les Shaver | March 30, 2020
In this emotional time, it’s best to remain calm, says Camden CEO Ric Campo.
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Why the Pandemic Won’t Derail Growth in Phoenix
Kelsi Maree Borland | March 30, 2020
Job growth has been a major driver of expansion in Phoenix, but the job diversity gained in recent years will help keep the market on track.
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Tech Comes to The Forefront with Social Distancing
Lisa Brown | March 30, 2020
Recognizing the new realities of COVID-19, real estate augmented reality visualization platform RealAR recently partnered with location-based AR experience company tagSpace to launch a strategic partnership.
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Coronavirus Could Push Jacksonville Into Becoming a Life Science Cluster
John McCurry | March 30, 2020
Colliers’ Michael Brown cites land availability, transportation infrastructure and science coming out of the region’s universities.
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How Residential Real Estate Is Still Getting Deals Done During the Pandemic
Kelsi Maree Borland | March 27, 2020
The market has certainly slowed, but residential real estate brokers are leveraging technology to move deals during social distancing.
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Grace Bay Resorts Executes Multi-Prong Approach, Navigates Coronavirus Pandemic
Mariah Brown | March 30, 2020
Grace Bay Resorts, a multi-disciplined real estate firm with proprietary condo-hotel management and development divisions, is looking at each part of the business differently to navigate the effects of the coronavirus, also referred to as COVID-19, Mark Durliat, CEO at the firm, tells GlobeSt.com.
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Tech-Driven Brokerage Elegran Begins Financial Hibernation During Coronavirus
Mariah Brown | March 30, 2020
Elegran, a tech-driven real estate brokerage firm headquartered in New York, is making an effort to preserve cash, negotiate vendor contracts, study available data and communicate with its clients to weather the effect of the coronavirus pandemic, says CEO Michael Rossi.
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Task Force Created for Mortgage Firms’ Liquidity Shortfall
Erika Morphy | March 27, 2020
Treasury Secretary Steven Mnuchin wants to receive recommendations by March 30.
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Property Owners’ Legal Responsibilities During the Coronavirus
Erika Morphy | March 27, 2020
Landlords have some degree of responsibility in the protection of an occupant’s health and safety, this includes taking reasonable steps to protect commercial tenants and their customers.
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Stan Johnson Broker: It’s Hard to Predict How the Market Will React
Kelsi Maree Borland | March 27, 2020
This is event is unprecedented, making it difficult to predict the path toward recovery.
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What One Still-Active Lender Has to Say About Deals
Les Shaver | March 27, 2020
“A situation with people being out of work for greater than four months would ultimately hurt their ability to pay rent.”
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How the Pandemic Will Impact Retail Rents
Kelsi Maree Borland | March 26, 2020
CGS3 attorney Chris Rizza says that retail rents will dip in the short term as landlords work with tenants to curb defaults.
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Where CRE Liquidity Stands Today
Erika Morphy | March 26, 2020
With the CMBS market frozen, lenders that rely on this exit strategy are staying put.
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Borrowers Adjust Footing In Volatile Capital Markets, Coronavirus Pandemic
Mariah Brown | March 26, 2020
Borrowers are reassessing their current deals in the pipeline amid the coronavirus pandemic, bearing down on the underwriting of assets and consulting with lenders on existing loans and new loans to close deals as quickly as possible.
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UCLA Economist: REIT Pricing Suggests CRE Values Have Repriced Lower
Kelsi Maree Borland | March 26, 2020
With so much market volatility and general uncertainty, it has become challenging to price deals.
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How One Condo Developer Is Getting Deals Done Digitally
Kelsi Maree Borland | March 25, 2020
Optima Kierland has transitioned to all-digital showings in response to the pandemic, and has completed two sales.
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Co-living Operator Outpost Allocates Housing for Medical Staff On Coronavirus Frontlines
Mariah Brown | March 26, 2020
Outpost Club, a New York-based real estate company operating 25 co-living communities across New York, New Jersey and California, will create dedicated housing for traveling doctors and nurses on the frontlines treating coronavirus, or COVID-19, patients.
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CRE Associations Ask Government for Help With CMBS Liquidity
Erika Morphy | March 25, 2020
The CREFC-led group wants the Fed to extend its recently-announced Term Asset-Backed Security Loan Facility to include agency and private-label CMBS.
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How to Handle the Coming Surge in Retail Tenant Defaults
Kelsi Maree Borland | March 25, 2020
Retail landlords facing tenant defaults as a result of the coronavirus pandemic will likely work with tenants toward a solution.
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W&D's Aaron Appel: Coronavirus Muddles Valuations for Unforeseeable Future
Mariah Brown | March 25, 2020
A dip in property values may drive away capital allocators as the future remains unclear, Aaron Appel, senior managing director at Walker Dunlop in New York, tells GlobeSt.com.
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CRE Stakeholders Limit Risk Exposure In Coronavirus Crisis
Mariah Brown | March 25, 2020
As the days of social isolation add up, tenants will seek rent relief and landlords will have to prepare on how to respond.
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Bets on Grocery-Anchored Retail Are Paying Off
Kelsi Maree Borland | March 25, 2020
Grocery-anchored retail centers are performing well through the pandemic as people stock up on essentials.
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Why the Auto Parts Sector Could Hold Up In a Recession
Les Shaver | March 24, 2020
In a recession, people hold onto their cars longer.
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Colony Capital’s Thomas Barrack Warns Commercial Mortgage Markets are in Jeopardy
Erika Morphy | March 24, 2020
Significant margin calls on repurchase agreements has resulted in a severe liquidity crisis over the entire real estate finance market, he said.
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Beacon Isn’t Forecasting a Recession Yet
Kelsi Maree Borland | March 24, 2020
The latest forecast from Christopher Thornberg of Beacon Economics predicts a bad quarter, but not necessarily a recession.
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Common Areas Provides Essential Coronavirus Tools to Property Owners
Kelsi Maree Borland | March 24, 2020
The company has created industry-specific checklists based on CDC and OSHA guidelines for commercial and multifamily owners to use free of charge.
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Why Some Investors Are Seeing Opportunity Today
Kelsi Maree Borland | March 24, 2020
Long-term residential housing investors are seeing opportunity with the possibility of pricing adjustments.
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Shlomi Ronen: The Economic Disruption Is Temporary
Kelsi Maree Borland | March 23, 2020
Dekel Capital’s Shlomi Ronen says that the world will get back to normal pretty quickly.
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Commercial Real Estate Activity in Turbulent Times
Lisa Brown | March 24, 2020
Ian Formigle of CrowdStreet says we are in a recession but there is data to suggest it will be more V-shaped than U-shaped or L-shaped, and right now, he is betting on a V-shaped recession.
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How Retail Inadvertently Prepared for the Current Health Crisis
Lisa Brown | March 23, 2020
Retailing in the digital age transformed itself to compete with the likes of Amazon, but as a result, this industry is better prepared to perform during the current health crisis without even realizing it.
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Fed Announces Unlimited Bond Purchases, Will Buy Apartment CMBS
Erika Morphy | March 23, 2020
Regulators have also granted banks more leeway to make short-term modifications on loans.
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Some Landlords Are Using Force Majeure for Space Build-Outs
Mariah Brown | March 23, 2020
Stakeholders across every real estate asset class are reviewing contractual obligations to assess risk and introduce clauses to limit exposure, citing force majeure, unforeseeable circumstances or events.
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Real Estate Owners Retrofit Buildings For Longevity Amid Coronavirus
Mariah Brown | March 23, 2020
Real estate owners are retrofitting their properties for performance purposes to sustain them amid intense operational schedules, such as demonstrated with the current coronavirus pandemic, Michael Moran, chief sustainability and risk officer at technology firm Microshare, tells GlobeSt.com.
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New Signs Suggest a Slowdown in Multifamily Deals
Erika Morphy | March 23, 2020
“It’s been a seller’s market for years. Now we have a shock to the system.”
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UCLA Forecasts Sharp Recession
Kelsi Maree Borland | March 23, 2020
This recession will be more severe but shorter than the Great Recession as UCLA estimates a 6.5% GDP loss in the second quarter alone.
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As Unemployment Surges, Where Does Multifamily Stand?
Erika Morphy | March 20, 2020
Demand growth expectations at a national level for multifamily could be cut by between 10% and 20%, CoStar says.
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The Case for Opportunity Zone Investments During the Coronavirus
Les Shaver | March 20, 2020
Stock market sellers might be realizing capital gains without having a specific tax plan for the increase they just realized.
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Gaming REITs Have a Good Chance for Recovery
Tanya Sterling | March 20, 2020
MGM and other casinos in Las Vegas are temporarily closing to mitigate the spread of the virus.
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One Housing Developer’s View of the Current Capital Markets
Les Shaver | March 20, 2020
Every single major investor, institutional family office from overseas, has hit the stop button, according to Ari Rosenblum, co-founder and CEO of Vie Management.
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Bankers Reluctant to Loan Money In Coronavirus, Low-Interest Rate Environment
Mariah Brown | March 20, 2020
Despite the Federal Reserve slashing interest rates to near zero, similar to actions taken during the 2008 Financial Crisis, bankers have pressed the brakes on originating new loans as the economic environment becomes more uncertain amid the coronavirus.
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CRE Focuses Attention On Mainstream and Not Wall Street Amid Coronavirus
Mariah Brown | March 20, 2020
Landlords are putting out calls in influx to legal counsel in the wake of new laws Congress has passed to alleviate financial pressures the coronavirus, also known as COVID-19, has caused with social isolation measures in effect.
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Coronavirus Liability is a Major Concern for Retail Owners Right Now
Kelsi Maree Borland | March 20, 2020
With rapid spread of the COVID-19 virus, landlords should be concerned about potential claims of infection in common areas.
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The Mortgage Industry Has Changed or Has It?
Lisa Brown | March 20, 2020
Many are suspicious of recent growth and wondering whether another crash is unavoidable so Clever Real Estate investigated the housing and mortgage markets leading up to and since the Great Recession.
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South Florida Builders Active, But Pipeline Stalls Amid Coronavirus
Lidia Dinkova | March 20, 2020
South Florida public agencies have canceled zoning and commission meetings where action on proposed developments was pending, but construction, permitting and inspections continue.
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Chicago Mayor Launches $100M Coronavirus Relief Package
John Jordan | March 20, 2020
The new fund will provide more than $100 million in low-interest loans to severely impacted small businesses over the coming months, targeting historically under-resourced communities with an emphasis on minimizing hardship for those businesses and their employees.
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Two Construction Firms Work With Florida Hospitals on Coronavirus Projects
John McCurry | March 20, 2020
“The plan is for the partnership to work with a number of healthcare systems throughout Florida as well as in the Northeast and Mid-Atlantic.”
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CRE Deals Go Into Hiatus
Erika Morphy | March 19, 2020
Buyers are hitting the pause button as they take the time to survey the new landscape.
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Coronavirus Pandemic Will Be Uncomfortable, Not Catastrophic
Kelsi Maree Borland | March 19, 2020
The outbreak of COVID-19 will certainly be a decrease in real estate demand drivers, but there will be some great buying opportunities.
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The Pandemic Shows Why Daily Needs Retail Is Still Essential
Kelsi Maree Borland | March 19, 2020
With people rushing out to grocery stores and pharmacies, daily needs retailers are doing well amid the crisis.
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What a Difference 80 Days Can Make
Lisa Brown | March 18, 2020
The coronavirus has brokers guessing as to how this will affect leasing in the short term, and Avison Young says leasing activity is likely to have a degree of decline in transaction volumes compared to pre-crisis expectations.
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Real Estate Brokers Lean On Tech, Adapt to Coronavirus
Mariah Brown | March 19, 2020
To shoulder the temporarily new normal of isolation in the face of the current public health crisis, real estate brokers are relying heavily on technology more than ever to get deals done.
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Willy Walker: Government May Let Student Housing Owners Turn Assets to Hospital Beds
Erika Morphy | March 18, 2020
Not many operators appear to be interested in the idea though.
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Proptech Firm Blocks Out Coronavirus-Noise, Scanning Proprietary Data
Mariah Brown | March 18, 2020
Proptech firm Okapi has been busy at work generating analysis using property data to identify risks to landlords to determine how vulnerable companies are to the coronavirus or like ailments to minimize them.
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Boston Pauses ‘Non-Essential’ Construction in City
John Jordan | March 18, 2020
New projects cannot be started at this time unless it meets certain criteria. Any currently permitted and active construction project must be in a secure situation by Monday, March 23.
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What Lenders are Thinking as They Assess Distressed Hotels
Timothy Little | March 18, 2020
Given the uncertainty and dwindling cash flow, lenders in the sector must prepare for loan workouts and restructurings.
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It Won’t Be Pretty
Jonathan D Miller | March 18, 2020
Late in the cycle deals at market top prices are primed to be savaged.
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Employers Are in a Dicey Situation as Coronavirus Spreads. Here's What Lawyers Suggest
Samantha Joseph | March 17, 2020
Employers must learn all they can about employees' exposure as the coronavirus spreads, while also taking into account privacy restrictions under HIPAA.
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Construction Lenders Are Open For Business Amid COVID-19 Disruption
Kelsi Maree Borland | March 17, 2020
While there is more prudency, construction projects are still moving through COVID-19 challenges.
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Job Losses Are Here. How Will CRE Fare?
Erika Morphy | March 16, 2020
“Based on what we know today, I think we will see the employment picture turn negative, but it is doubtful that the impact on growth and the number of jobs lost would be as severe as the Great Recession.”
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Landlords Depend On Operational Data to Identify Coronavirus Vulnerabilities
Mariah Brown | March 16, 2020
Landlords are leaning on operational data to identify Coronavirus vulnerabilities in their building portfolios.
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Construction Industry Bracing for Potential Impact of COVID-19
Lisa Brown | March 16, 2020
Owners will be reviewing contracts for agreements outlined, and what contractual rights and duties exist in light of the conditions caused by the spread of the coronavirus.
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Coronavirus 'Brutal' for Real Estate Transactions as Lenders Hit Brakes on Financing
Lidia Dinkova | March 13, 2020
Three attorneys reported either a pause or a flat out cancellation of a total of seven real estate deals, although more than likely a lot more transactions aren't closing.
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The Coronavirus Is Delaying a Construction Project. What Does Your Contract Say?
Erika Morphy | March 13, 2020
“Construction projects always have a ‘time for completion’ component and many contractual provisions may certainly come into play in any construction project which is affected by labor shortages from the coronavirus.”
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Stock Market Turmoil Makes it Harder to Value CRE
Les Shaver | March 12, 2020
“In many ways, this could benefit commercial real estate in that rate cuts have made the cost of debt capital cheaper and will cause many to seek more stable investment vehicles and hard assets.”
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Your Lender Wants to Know Your Exposure to the Coronavirus
Dean Harris and Rebecca Percossi | March 12, 2020
It’s critical that lenders are aware of the global effects coronavirus can have, and is potentially already having, on their investments.
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5 Actions Property Managers Can Take For COVID-19
Mark Zettl | March 11, 2020
In times of crisis, the best way to be able to move quickly and act decisively is limiting the number of decision makers.
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How Industrial Will Fare If COVID-19 Is Not Contained In the Near Term
Erika Morphy | March 10, 2020
“The US economy will not be able to escape the fallout from COVID-19.”
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Coronavirus in the Workplace: Seven Things For Employers to Do Now
April Boyer and Claire Flowers | March 10, 2020
Employers are rightfully concerned about the health, safety and welfare of their employees in light of the global spread of coronavirus disease (COVID-19.)
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Recession Forecasts Grow Amid Coronavirus Uncertainty
Erika Morphy | March 09, 2020
The irony is that steps credited with slowing the coronavirus elsewhere in the world inevitably come with an economic price.
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One Private Equity Firm’s View on the Coronavirus
Les Shaver | March 06, 2020
While debt will grow cheaper with the crisis, NOI risks lurk.
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Coronavirus Clouds Construction Cost Projections
Erika Morphy | March 04, 2020
2020 was slated to see costs grow at a slower pace than previous years, according to JLL.
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Are Flexible Workspaces Ready for the Coronavirus?
Les Shaver | March 03, 2020
As WeWork’s precautions in China show, American coworking firms need to be prepared.
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Coronavirus Market Rout Hits CRE Pricing
Les Shaver | March 02, 2020
As the markets tumble, prices that were quoted just a couple of weeks ago are no longer applicable.
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COVID-19 May Have a Short-Term Ripple Effect, Slowing Economic Growth
Lisa Brown | March 11, 2020
Demand for real estate investments remains high, with multiple sources of active capital, but cross-border investment is likely to slow in the short term and the scope will depend on how the disease evolves.
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How to Minimize Coronavirus Risk in Fla. Residential Communities
Donna DiMaggio Berger | March 06, 2020
Given the demographics in many shared ownership communities and particularly in “55 and over” communities, questions are already flowing in about what boards can and cannot do to minimize the risks COVID-19 poses.
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As Coronavirus Concerns Grow, Employers Grapple With How to Manage Stakeholder Relationships
Jolie Balido and Tina van der Ven | March 05, 2020
With a Coronavirus threat putting so much at stake, employers want to know how to keep their businesses operating, while meeting the changing needs of their key stakeholders.
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Coronavirus Spikes Fear of Long-Term Impact on Housing Market
Mariah Brown | March 04, 2020
Due to mounting concerns about the coronavirus, the Federal Reserve has slashed interest rates, which in turn can lead a flurry of homebuyers to the market to secure investments. However, that sugar high isn’t expected to last long.
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MIPIM: Firms Doubtful Over Attending Rescheduled Event
Meganne Tillay | March 06, 2020
Several heads of real estate at leading law firms have expressed concern over the rescheduling of the event, which was moved to June in light of coronavirus fears.
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US Shoppers Likely to Stay Home as Coronavirus Worsens
Erika Morphy | March 02, 2020
It is clear that a worsening of the outbreak would hit malls disproportionately.
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For Businesses Suffering From Coronavirus Losses, Insurance Coverage May Offer a Remedy
Walter J. Andrews and Cary D. Steklof | February 14, 2020
As a hub for international travel and tourism, South Florida businesses are hardly immune from the economic consequences of this epidemic.