As the length and severity of the coronavirus pandemic continue wreak havoc on the economy, real estate deals are at best being reworked and at worst falling apart altogether. … READ MORE >
School’s out for summer (or forever?)
It seems as if we are living through an alternate version of Alice Cooper’s song. While the COVID-19 pandemic has had a significant impact across real estate sectors, student housing, once a beacon of stability, is now vulnerable as universities prepare for the school year. … READ MORE >
Businesses already strained by COVID-19 should prepare for hurricane season
Forecasters predict a 70% chance that this hurricane season will be worse than normal. For businesses already stretched thin by the coronavirus pandemic, the grim forecast comes at a perilous time. Sectors such as insurance, real estate, hospitality and health care are particularly vulnerable. … READ MORE >
Miles away: U.S. airports face heavy lift and slow recovery
The COVID-19 pandemic and resulting shelter-in-place protocols have devastated the airline industry. Along with it, airports across the country, rife with retail, have suffered significant losses.
As cancellations of business trips and vacations mounted beginning with the onset of the outbreak in mid-March, traffic from travelers plummeted. The Transportation Safety Administration reported that throughput fell to approximately 100,000 people per day by the first week of April, down from almost 2.2 million daily a month earlier. … READ MORE >
Is brick and mortar dead? This time, we’re talking about office buildings.
As many middle market companies have shown that they can shift from a traditional brick-and-mortar setting to a virtual one, office building tenants, and landlords, are rethinking the need for offices in the future — and the related fixed costs they bring. … READ MORE >
For real estate companies, the new Paycheck Protection Program funding is not a cure-all
The new Paycheck Protection Program will most likely face the same problem it had before: There isn’t enough money. At a burn rate that banking insiders estimate at $50 billion a day, the new Paycheck Protection Program funds are expected to be exhausted within a week. … READ MORE >
With lifeline from Paycheck Protection Program cut short, real estate turns to bankers for liquidity
The Paycheck Protection Program, a $349 billion government effort to help small and medium-size businesses weather the coronavirus pandemic, is hitting its funding limit less than two weeks after it was launched on April 3. Now, real estate companies are looking to banks and the private sector for relief. … READ MORE >
How the real estate sector can weather an economy that has all but ground to a halt
Landlords are girding for the very real prospect that the $81 billion owed to them in rent payments, according to Bloomberg, will fall far short as tenants of all kinds struggle to find the cash. … READ MORE >
Between a rock and a hard place, retailers ask to stop paying rent to survive
In a move for self-preservation, retailers are demanding that their landlords withhold or slash rent in the coming months as stores have closed to slow the spread of the coronavirus. … READ MORE >
Can hotels become hospitals? Thinking creatively about how to put empty space to work
Hotel companies in the United States are imploring Washington for relief amid the escalating cancellations because of the coronavirus pandemic. Industry leaders face seemingly impossible decisions as revenues have all but disappeared while significant fixed expenses remain. … READ MORE >