The Apartment Association of Greater Los Angeles filed a lawsuit arguing eviction bans are unconstitutional.
Foreign Investors Have Stayed Away from U.S. Real Estate in Recent Months. That Trend Is Not Expected to Hold
Once the pandemic is over, foreign buyers will likely see attractive investment opportunities in core assets.
10 Must Reads for the CRE Industry Today (June 12, 2020)
The D Magazine looks at commercial real estate valuations in a post-COVID world. Nursing homes received unusable protective gear from FEMA, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
Office Brokers Don’t Expect a Return to Normal Any Time Soon
While brokers don’t believe the office is going away, they expect the challenges presented by the pandemic to last into next year.
Billionaire Rowling’s Manhattan Hotel to Permanently Close
The 399-room property, located in East Midtown and owned by TRT Holdings, will close its doors for good.
Hotels in Italy Are Gradually Reopening. Here’s What That Looks Like.
Some hotels are investing in cutting-edge cleaning technology; others are following simpler government guidelines.
Eight Must Reads for the CRE Industry Today (June 11, 2020)
Restaurant companies with locations in multiple states struggle to navigate rules to reopen, reports the Wall Street Journal. A third of America’s malls are shutting down permanently by 2021, according to CNBC. These are today’s must reads from around the commercial real estate industry.
Despite Essential Tenants Remaining Open, Shopping Center Landlords Saw 40% Drop in Rent Collections
Rent collections at grocery-anchored shopping centers averaged in the high 60 to low 70 percent from March through May.
Malaysian Bank Sued for ‘Thwarting’ Luxury Tribeca Condo Tower
A New York City condo building developer filed a lawsuit against the bank for reneging on an agreement for a construction loan.
Simon Nixes Merger with Taubman Centers
Citing breached covenants, Simon Property Group has terminated its $3.6 billion merger agreement with Taubman Centers.