Industry News
Commercial Real Estate
Top stories summarized by our editors
6/5/2020

Demand for office space could be affected by the pandemic, but Karsten Kallevig, who oversees the real estate unit of Norway's sovereign wealth fund, notes that workers who return to offices will likely need more space. The unit could see annual returns that fall short of the 7.7% it has delivered in the past, but low interest rates will likely bolster real estate prices.

6/5/2020

REIT leaders participating in Nareit's REITweek: Virtual Investor Conference discussed the impact of the pandemic on rent collections and other aspects of their operations. In this interview, Nareit's Calvin Schnure discusses major takeaways from the event as well as the state of REITs' balance sheets and ability to raise capital. "I've really seen people stepping up their communication so that everyone is aware of the developments," Schnure says.

6/5/2020

Las Vegas casinos are reopening with such safety measures as temperature screenings, plexiglass shields, socially distanced slot players and casino workers who wear face masks. "We are a hospitality company, we are an entertainment company, but at the same time, we want to do this the right way," says John Flynn, MGM Resorts vice president of administration.

6/5/2020

Companies are negotiating with their landlords to reduce rent as the US economy continues to deal with the pandemic, but some landlords are pushing back to protect their own finances. In some cases, companies that have cash on hand or the ability to raise capital are nevertheless seeking rent relief.

6/5/2020

The performance of luxury rentals during the pandemic varies from market to market, with concessions rising in some cities. Here is a look at activity in several markets, including New York City, San Francisco, Chicago and Atlanta.

6/5/2020

US nursing home occupancy dropped by nearly 100,000 residents -- roughly 10% of the nursing home population -- from the end of last year to late May, federal data shows. However, Rachel Werner of the University of Pennsylvania noted that new data from the Centers for Medicare and Medicaid Services "doesn't give us a full picture of the impact of the pandemic."

6/5/2020

Brooks Brothers plans to lay off almost 700 employees this summer at its three clothing factories in the US, and the company is seeking buyers for the facilities. "The factories never made money for us, and at this moment all resources need to be maintained and saved to make sure we can come out on the other side of the crisis," says owner Claudio Del Vecchio.

6/5/2020

This podcast discusses Prologis' history, the scale of its operations and its growth prospects going forward. "In the long term, we actually see a much greater and robust demand picture for our properties," driven by space-intensive e-commerce operations and a focus on supply chain resilience, says CEO Hamid Moghadam.

6/5/2020

American Tower Corp.'s business model has been "incredibly resilient and sustainable in just about all kinds of economic environments," says Tom Bartlett, president and CEO of the REIT. He cites the essential nature of the REIT's infrastructure as well as its long-term contracts with a well-capitalized customer base.

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Nareit
6/5/2020

CubeSmart's rapid design of a completely online rental process for its customers has generated "incredibly positive" results so far, says President and CEO Chris Marr. He says that CubeSmart is also looking at other ways to create a contactless environment and notes that the self-storage asset class has typically been resilient.

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Nareit