Real Estate Investment Trusts

The New York-based REIT is looking to sell two office towers it co-owns with the Trump Organization.

Over 100 Congress members have asked the Federal Reserve and the Trump administration to help businesses struggling with commercial real estate debt, reports the Wall Street Journal. Slightly more than 92 percent of apartment households made either a full or partial rent payment in June month-to-date, according to NMHC. These are among today’s must reads from around the commercial real estate industry.

CEO Michelle Gass said the pandemic has forced the company to speed up its migration to e-commerce and rethink store operations.

Blackstone’s Stephen Schwarzman predicts a V-shaped recovery this summer, reports Bloomberg. Many companies kept office workers at home as New York City entered phase 2 of reopening, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.

Sales closings fell by 9.7 percent in May compared to April, according to the NAR data.

More than $20 billion in CMBS loans has been transferred to special servicing, according to data from Fitch. Malls and stores are reopening without a federal system in place to check whether establishments have been involved in COVID outbreaks, reports Yahoo News. Mitchell Rudin has been appointed chairman and CEO of Savills North America. These are among today’s must reads from around the commercial real estate industry.

The initial chaos in the housing market caused by the coronavirus pandemic has given way to an eerie calm.

Global protests on systemic racism are also shining a light on the stark difference in companies’ diversity efforts.

Landlords’ lawsuits against eviction bans may have valid constitutional challenges. But they may take years to get to the courtroom.

California’s proposed ban on commercial evictions failed to advance, according to Connect California. Both the Wall Street Journal and The New York Times look at whether young people leaving big cities will eventually come back. These are among today’s must reads from around the commercial real estate industry.