"The social safety nets of European countries can look more expensive, but in a time of crisis, they can also help investors understand how economic losses will be distributed."

Most retailers have stalled leasing activity, but essential retailers are continuing to sign new leases even through the pandemic.

The seller of the 300-unit building is Jonathan Shechtman of New York-based Axonic Properties.

One observer sees property owners selling out of certain asset classes and regions.