Coronavirus is causing deals to break down and firms to cancel attending upcoming conferences (when those conferences haven’t been cancelled altogether, that is), according to industry sources. And that was the case last week, before many states and cities began closing schools and unrolling strict measures on what businesses should remain open in the coming weeks and months.
Industry pros are bullish on all fronts, expecting capital to continue to flow freely, cap rates to hold steady and developers to deliver a healthy supply of inventory in the coming year.
The biggest school system in the U.S. is closing. California is confining the elderly to their homes. And bars, restaurants, resorts and several retail chains are closing shop. Welcome to the Great Shutdown, as wide swaths of the American economy enter suspended animation to combat the spread of coronavirus.
COVID-19’s spread is rocking the global economy. GlobeSt.com examines the potential toll of job losses for the CRE industry. Bisnow looked at what the near zero interest rates will mean for the sector. Meanwhile famed investor Carl Icahn revealed to CNBC that he is shorting commercial real estate securities. These are among today’s must reads from around the commercial real estate industry.
