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There's going to be a pruning of the development pipeline, and a lot of owners either seeking to exit their positions or in need of rescue capital to preserve the positions, Driftwood's Carlos Rodriquez Sr. says.
In these unprecedented times, both Freddie Mac and Fannie Mae have been an unwavering source of capital, and are still actively lending and closing on transactions at aggressive rates below 3%.
Shelter-in-place orders caused a sudden shift which has resulted in a demand surge across certain industries, with an emphasis on the crucial role that logistics real estate plays in everyday life, says a Prologis report.
Despite the fact that national QSR chains are reporting an average dip in sales of about 25% in the coronavirus, their NOIs have not changed significantly.
The sources told the WSJ that Mirae's reason for not closing the deal was in part due to the hotels operating outside the ordinary course of business amid the coronavirus pandemic.
Earlier last year, the firm acquired The Reserve at Copper Chase, a 132-unit apartment and townhome community at 3145 Honey Run Drive less than 10 miles from the View at Mackenzi.