CMBS deals that were stuck in limbo when COVID-19 hit have found a path forward, thanks to greater pricing stability on the heels of government intervention. It’s a glimmer of good news for the market that’s also seen a spike in forbearance requests from borrowers and is bracing for delinquencies in the months ahead.
Sam Zell, the billionaire known for buying up troubled real estate, said the coronavirus pandemic will leave the same kind of impact on the economy and society as the Great Depression 80 years ago, with long-lasting changes in human behavior that imperil many business models.
Real estate technology startup Cadre is planning to launch a new fund to seize on property-market opportunities that arise from the economic downturn in the wake of the coronavirus pandemic, according to people with knowledge of the matter.
L Brands Inc. agreed to cancel a deal that would have given private equity firm Sycamore Partners control of beleaguered lingerie chain Victoria’s Secret, which now faces an uncertain future as a standalone business in a ravaged retail industry.
The New York Times looks at how coronavirus has threatened the long-term push for denser housing. Forty-seven percent of Vornado Realty Trust’s retail tenants did not pay rent for the month of April, reports Crain’s New York Business. These are among today’s must reads from around the commercial real estate industry.
