Commercial Mortgage Alert, Aug. 21, 2020 (subscription)The CRE Finance Council and the Mortgage Bankers Association have mounted lobbying campaigns that have had some success at the federal level, although long-term …
Category: Top National News
Coronavirus Shutdown Stings New Jersey Mall’s Bondholders
Wall Street Journal, Aug. 26, 2020–Matt WirzMutual funds took hundreds of millions of dollars in paper losses this spring on the American Dream project despite market’s rally. (subscription) https://www.wsj.com/articles/coronavirus-shutdown-stings-new-jersey-malls-bondholders-11598434200?
Mall of America Owner Enters into Forbearance Agreement to Help with Mortgage Troubles
Minneapolis Star-Tribune, Aug. 19, 2020–Nicole NorfleetThe mall’s owner, Canadian-based Triple Five Group, has been several months late on the $1.4 billion mortgage for the megamall.https://www.startribune.com/moa-owner-behind-on-mortgage-reaches-deal-to-avoid-foreclosure/572158332/
1 in 4 Hotels Can’t Pay Their Mortgage
CNN Business, Aug. 19, 2020–Jordan ValinskyThe report, sent to Congress this week and compiled by Trepp, shows that the percentage of hotel loans 30 or more days delinquent is 23.4% …
The Office Will Never Be the Same. That’s Probably a Good Thing
New York Times, Aug. 20, 2020–Claire Cain MillerThis is exactly the revolution that many workers — and those who study them — have been envisioning for years: giving people control …
New Thinking on Covid Lockdowns: They’re Overly Blunt and Costly
Wall Street Journal, Aug. 24, 2020–Greg Ip (subscription)Blanket business shutdowns—which the U.S. never tried before this pandemic—led to a deep recession. Economists and health experts say there may be a …
Retail Landlords Offer Pandemic Clauses in New Leases
Wall Street Journal, Aug. 25, 2020–Esther Fung (subscription) Retail landlords are including pandemic language in new leases, a previously rare feature as tenants seek protection after the first government-mandated coronavirus …
Data Center Demand Holds Up Amid Pandemic
National Real Estate Investor, Aug. 24, 2020–Bendix AndersonWith ever-increasing amounts of day-to-day activity taking place online, even more so under the COVID-19 pandemic, demand from large and small companies is …
‘The Big Short 2.0’: How Hedge Funds Profited Off the Pain of Malls
New York Times, Aug. 24, 2020–Kate KellyAs the pandemic accelerated the demise of some brick-and-mortar retailers, a group of investors profited handsomely from their travails.https://www.nytimes.com/2020/08/24/business/mall-short-hedge-funds.html
Fannie Mae Creates New C-Suite Role, Promotes Jeff Hayward
National Mortage News, Aug. 19, 2020–Paul Centopani (subscription)Fannie Mae’s new chief administrative officer position focuses on diversity, inclusion and affordable housing.https://www.nationalmortgagenews.com/news/fannie-mae-creates-new-c-suite-role-promotes-jeff-hayward