Economic hardships caused by the pandemic are likely to lead to forced house sales and new renters, according to the Wall Street Journal. BlackRock CEO says having more than a quarter of employees managing the firm’s $7.4 trillion in assets from their basements and bedrooms could have a deleterious effect on BlackRock, reports The New York Post. These are among today’s must reads from around the commercial real estate industry.
Oaktree to Explore $2 Billion Sale of Cold Storage Firm
The alternative asset manager is soliciting interest from potential suitors to buy Agro Merchants Group.
12 Must Reads for the CRE Industry Today (Sept. 18, 2020)
While U.S. stores and factories are getting back to normal occupancy, offices are lagging, reports the Wall Street Journal. Election-induced volatility may give the dollar a reprieve from its months-long decline, according to Reuters. These are among today’s must reads from around the commercial real estate industry.
Westfield’s Owner Is Feeding the Banks Again: Lionel Laurent
Unibail-Rodamco-Westfield is betting on a deleveraging plan to would bring its LTV down to 30.9 percent.
Exclusive Research: COVID-19 Weighs on Near-Term Outlook for Seniors Housing
Respondents have a more bullish view for the long-term prospects for the sector.
17 Must Reads for the CRE Industry Today (Sept. 17, 2020)
The National Multifamily Housing Council rent payment tracker found 86.2 percent of apartment households made a full or partial rent payment by September 13. Hoteliers fear a wave of closures in the sector due to falling occupancy rates, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
Apartment Developers Scout Adaptive Reuse Possibilities
That math will become easier for developers if more distressed properties become available at a steep discount.
11 Must Reads for the CRE Industry Today (Sept. 16, 2020)
The Wall Street Journal goes inside a New Mexico nursing home where residents and the providers who care for them struggle with the effects of the virus. House Democrats will forgo recess to close a deal with Republicans on a new coronavirus aid bill, reports Reuters. These are among today’s must reads from around the commercial real estate industry.
10 Retailers That Have—and 10 That Haven’t—Paid Their Rent as of August
Apparel stores, fitness studios and hair salons continue to be among many retailers struggling to pay rent.
Pandemic May Permanently Replace Some Human Jobs with Machines
Jobs most at risk of being replaced by machines include hotel desk clerks, shuttle drivers, retail salespersons and parking attendants.