NREI spoke to Joseph Cuomo, executive managing director and head of sales with Ten-X, about what the company saw on its platform over the past month. Data from Ten-X Commercial Real Estate, an online commercial real estate marketplace, shows assets at its March auctions were still getting multiple bids and sales continued to close, especially on smaller balance deals of under $10 million.
Class-C apartment tenants have been badly hurt by the economic shutdown precipitated by the novel coronavirus, crushing their ability to pay rents, thereby putting strain on those properties’ owners to continue to cover costs and mortgage payments.
For years, discount retailers like T.J. Maxx and Ross have been eating their rivals’ lunch as consumers warmed to the thrill of shopping as a treasure hunt experience.
No one knows when the lodging business will bounce back from the social-distancing measures designed to slow the spread of the coronavirus, but it’s a safe bet that the deadly pandemic will change the experience of staying in a hotel.
The FHFA is considering new steps to ease the strain on mortgage companies, reports the Wall Street Journal. The nursing home industry is facing rising costs at a time when it was already struggling to stay afloat, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.
