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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.
Board president James Whelan objects to the application of construction "prevailing wage," the pay rate contractors have to offer their employees when doing business with government agencies.
"We have also added additional cleaning staff to disinfect all areas of the building multiple times throughout the day, focusing on high-touch areas," says Magellan Development's Brian Gordon.
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.
UCLA Ziman Center director Stuart Gabriel says GDP loss will be unprecedented in the second quarter, but a recovery should start by the end of the year.