Commercial Real Estate
Top stories summarized by our editors
4/6/2020

About half of the small businesses surveyed by Alignable reported that they either didn't pay their April rent or only made a partial payment. One-quarter said their landlord or bank offered to defer or lower their rental payment.

4/6/2020

The mREIT sector experienced funding pressures and liquidity issues last month due to the coronavirus crisis, but intervention by the Federal Reserve seems to have helped. In this article, mREIT executives offer a look at what happened in March and how the situation has evolved.

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Nareit
4/6/2020

Canadian REITs have seen share prices fall and yields rise since Feb. 20, and the sector could face further challenges as tenants struggle to pay rent. "Before we were looking at an average yield in that 3 to 5% range and now you're looking at yields in the 5 to 10% range," says Jenny Ma of BMO Capital Markets.

4/6/2020

Camden Property Trust has established a $5 million Resident Relief Fund for tenants in good standing that are facing financial hardship. The REIT will grant up to $2,000 to tenants affected by the coronavirus, and the money can be used for food, utility bills, medical expenses and other costs.

4/6/2020

Welltower has reportedly dropped a bid to buy London-based Barchester Healthcare for at least $3.1 billion. More than 200 care homes in the UK are run by Barchester.

4/6/2020

The retail sector has been upended by the coronavirus, with many stores temporarily closed and almost 1 million retail workers furloughed last week alone. By the end of the year, at least 15,000 stores could be permanently closed, says Deborah Weinswig of Coresight Research.

4/6/2020

A joint venture including Colony Capital and SteelWave has sold a five-story office building in Thousand Oaks, Calif., for $21.6 million. The buyer, TriStar Realty Group, plans to convert it into a medical office campus.

4/6/2020

The jobs report for March showed that the economy lost 701,000 jobs from nonfarm payrolls, but Nareit's Calvin Schnure notes that the report was "out of date 10 days before it was released." April's report is expected to show larger losses, Schnure says.

4/6/2020

Data suggests the coronavirus is causing the sharpest economic downturn since the Great Depression. "This is a crisis like no other," says Kristalina Georgieva of the IMF.

4/6/2020

A local developer hopes to transform the struggling City View Center in Garfield Heights, Ohio, into a business park. If successful, Giant Eagle will remain as the only big-box tenant, while the rest of the space is used for non-retail purposes.

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Cleveland online