Northeast

The mayor stated on Wednesday that he will sign an Executive Order allowing construction work in the city to begin again on Friday morning with strict limitations in order to limit the spread of COVID-19.

A host of other publicly-traded real estate companies, including Simon Property Group, Vornado Realty Trust, CBRE Group and Cushman & Wakefield, have made similar reductions in compensation.

The 10-story, Class A office building was traded by Jersey City-based Mack-Cali Realty Corp. to an undisclosed private investor.

"Both the number of funds raising as well as the aggregate amount of capital targeted have increased consistently over the past few years," Preqin says in its report.

In the short-term, JLL sees capitalization rates rising 25 to 75 basis points for active adult, independent living and assisted living facilities, and 50 to 100 bps for memory care and nursing care.

The property was originally built in 2000 as part of the Merrill Lynch corporate campus and consists of three office buildings totaling 380,417 square feet.

Lawmakers need to amend the CARES Act to cover more costs or risk hotel staff layoffs and closures, according to the American Hotel & Lodging Association.

In preparation for our upcoming Woman of Influence marketing influencers, which will publish in the GlobeSt. Real Estate Forum July/August publication, we wanted to take a moment to recognize some of the leading ladies who have already made big moves in this space.