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As of April 20, the multifamily portfolio has a current percentage leased rate of 95%. The remainder of outstanding collections of 4% is largely from tenants who are seeking a payment plan, the company states.
Pyramid Cos. is the largest privately held shopping mall developer in the northeast and owns 16 properties totaling 17.8 million square feet located throughout New York, Massachusetts and Virginia.
Its core real estate funds depreciated by only 3.9% and continued to see inflows over the quarter, president Jonathan Gray, which were up 36% year-on-year.
The firm developed the guide based on its experience in moving 10,000 companies and nearly a million workers back into 800 million square feet of buildings in China.
The coronavirus crisis has shown companies how much business is possible to be accomplished over the phone and video conferencing, Avison Young says in a Q1 report on the state's office market.