American Banker, Nov. 23, 2020–Jim Dobbs (subscription)Hospitality sector credits are coming out of forebearance just as coronavirus cases surge. Restructurings and charge-offs could mount unless vaccine distribution happens quickly enough …
Category: Top National News
For Fannie and Freddie, Big Decisions Await
Multi-Housing News, Nov. 20, 2020–Paul FiorillaJoe Biden’s victory has thrown a wrench into the Trump administration’s efforts to privatize Fannie Mae and Freddie Mac, but appointees in charge of the …
Office Markets Face Long-Haul Recovery Despite Rising Vaccine Hopes
Bloomberg, Nov. 19, 2020Lending in the US for commercial and multifamily real estate is forecast to remain below pre-pandemic levels at least through 2022 with this year’s new loans plunging …
Macy’s CEO to States: Don’t Close Us Down Again
Wall Street Journal, Nov. 19, 2020–Suzanne Kapner (subscription)Macy’s Inc., still smarting from the pandemic’s damage to its business, is lobbying states and cities not to close its department stores during …
Banks May Be Office Landlords’ New Problem Tenant
Wall Street Journal, Nov. 19, 2020–Carol Ryan (subscription)Finance companies have slowed their takeup of new space more than other sectors since the pandemic began.https://www.wsj.com/articles/banks-may-be-office-landlords-new-problem-tenants-11605782386?mod=lead_feature_below_a_pos1
Covid-19 Has Changed Shopping for Good, Retail Giants Predict
Bloomberg, Nov. 17, 2020–Leslie PattonShopping may never be the same thanks to the Covid-19 pandemic. The consumer behaviors that accelerated at the start of the virus — think digital ordering, …
Here’s How Bad Commercial Real Estate Pain Could Get For Banks, Other Lenders
MarketWatch, Nov. 16, 2020–Joy WiltermuthLow rates and rosy assumptions about how much rent properties might collect helped fuel the record $5 trillion debt boom in U.S. commercial real estate over …
Apartment Investors Mull Opportunities in Distressed Malls
National Real Estate Investor, Nov. 16, 2020–Bendix AndersonApartment dealmakers may find an opportunity to build new apartments around the shells of under-performing or empty regional malls. Hundreds of troubled shopping …
Simon, Taubman Ink Revised Merger Agreement
Commercial Property Executive, Nov. 16, 2020–Lucia MorosanuAfter calling off merger plans in June, Simon Property Group has reached an agreement to acquire competing mall owner Taubman Centers Inc. While the …
Manhattan Office Glut Grows as Landlords Face Resurgent Pandemic
Bloomberg, Nov. 13, 2020–Natalie WongShares of SL Green, the biggest office landlord in New York, are down about 30% since March. To some, that decline merely hints at the pain …