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Most investors continue to harbor optimism that portfolios will hold up reasonably well during the next 12 months although it's clear that the COVID crisis will impact real estate cash flows for the short term, GlobeSt.com learns in this EXCLUSIVE.
Firms are donating resources and funds to those in need including Sares Regis Education and Community Foundation COVID-19 Relief Initiative and the list of companies that have established giving funds is growing.
Online applications for Camden's Resident Relief Fund opened at 10:00 a.m. CST on April 6 and within 20 minutes, Camden had received more than 2,500 applications for assistance checks, which allocated the fund.
Also, on Monday, California Gov. Gavin Newsom, Oregon Gov. Kate Brown and Washington Gov. Jay Inslee announced an agreement on a shared vision for reopening their economies and controlling COVID-19 into the future.
Highland Realty Capital procured a $22 million construction take-out bridge loan to fund the lease-up and stabilization of Scotia Apartments in San Jose, along with three other loans for a total of $61 million.
As more people face sudden unemployment during the slowdown, the Opportunity Zones initiative and if utilized, the EB-5 investor program will continue to provide jobs to distressed communities across the country.
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.
The League of California Cities filed a letter with the governor asking him to pause statutory timelines that apply to 12 parts of state law including timing requirements essential to resolving the housing crisis.