Northeast

Time Equities has reshuffled its staff to triage the asset management side of its business.

From underwriting to completing due diligence virtually, there are many challenges to closing a deal in today's market.

Also, 13% of respondents noted they had already made cost reductions in real estate expenses, with another 9% planning to take actions in this area in the coming months.

One problem: Even though construction of distribution centers are considered an essential business, companies supplying materials to sites are shutting down.

The property, originally built for Continental Can Company, is currently 70% leased to more than 20 tenants. No financial terms of the transaction were disclosed. Senior mortgage financing was provided by AmeriServ Financial.

Some property managers are taking the view that such disclosures only increase the stress among residents.

Sears.com, distribution centers and customer care operations will remain open and Sears Home Services will continue to repair essential appliances.

By providing cash to residents and benefits to businesses, the Act can serve as a lifeline.