Commercial Property Executive, March 30, 2020–Paul Fiorilla, Debra Morgan This year, April 1 is significant to the commercial real estate industry for decidedly unfunny reasons. On that date, the first …
Category: Top National News
Citi Could Be Stuck With Troubled Casino Loan as Mortgage Market Seizes Up
Wall Street Journal, Mar. 24, 2020–Peter Grant, Katherine Sayre (subscription)The market for issuing securities backed by commercial mortgages has frozen up, leaving some of the biggest names on Wall Street …
White House, Senate Reach Deal on $2 Trillion Stimulus Package
The Hill, Mar. 25, 2020–Alexander Bolton, Jordain CarneyThe revamped Senate proposal will inject approximately $2 trillion into the economy, providing tax rebates, four months expanded unemployment benefits and a slew …
REITs Aren’t Dead
DS News, Mar. 19, 2020–Seth WelbornAs the role of non-bank lenders has shifted in the past few years, regulators are considered allowing further growth for these mortgage institutions and REITs. …
Real Estate Billionaire’s Bleak Mortgage Warning Looks Timely
Bloomberg News, March 24, 2020–Marcus Ashworth The U.S. commercial real estate sector could be the next shoe to drop for the Federal Reserve; it may need some emergency triage. https://www.washingtonpost.com/business/real-estate-billionaires-bleak-mortgage-warning-looks-timely/2020/03/24/ef7d8648-6de7-11ea-a156-0048b62cdb51_story.html
SL Green’s $815 Million Deal to Sell New York City Office Tower Falls Apart
Wall Street Journal, March 24, 2020–Konrad Putzier (subscription)Real estate giant SL Green Realty Corp.’s agreement to sell the former New York Daily News headquarters for $815 million has collapsed after …
Preserving Affordable Housing
Washington Post, March 19, 2020–Haisten Willis While efforts to create new affordable housing generate debate and policy proposals nationwide, a less discussed issue is how to preserve and improve the …
Hit by Coronavirus Slowdown, Hotels Try Catering to the Quarantined
Wall Street Journal, March 19, 2020–Newley Purnell and Frances Yoon (subscription) With the coronavirus pandemic pummeling global travel, some hotels are employing a new tactic to boost bookings: targeting guests …
Coronavirus Recession Looms, Its Course ‘Unrecognizable’
New York Times, Mar. 21, 2020–Nelson D. SchwartzThe American economy is facing a plunge into uncharted waters. Economists say there is little doubt that the nation is headed into a …
Barrack Sees Commercial Mortgage Collapse If Liquidity Crisis Isn’t Addressed
Bloomberg, Mar. 23, 2020 (Video)Real estate billionaire and Colony Capital CEO Tom Barrack said there is a “liquidity crisis” in the U.S. commercial mortgage market and said banks and government …