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JUNE 11, 2020

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REITs

Simon Nixes Merger; Taubman Calls Termination 'Invalid'

By NREI Staff

Citing breached covenants, Simon Property Group has terminated its $3.6 billion merger agreement with Taubman Centers. Taubman responded to Simon's move in the afternoon, confirming receipt of notice and responding by calling the termination "invalid and without merit."

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Property Management

Moving Across Country During a Pandemic

By Liz Wolf, Contributing Writer

What changes have commercial establishments instituted so far to prevent the spread of infection as states reopen? Here's what we experienced on our recent trip from the Twin Cities to Phoenix.

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Analysis

Retail

Despite Essential Tenants Remaining Open, Shopping Center Landlords Saw 40% Drop in Rent Collections

By Sebastian Obando, Staff Writer

Rent collections at grocery-anchored shopping centers averaged in the high 60 to low 70 percent from March through May.

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Podcast

Finance & Investment

NREI's Common Area, Episode 36

By NREI Staff

In this episode of NREI's Common Area podcast, David Bodamer talks to Adam Gower, the founder of Gowercrowd, a crowdfunding resource for real estate developers. Together, they discuss why it’s time for investors to consider distressed real estate, examples of adaptive reuse on commercial properties, and other ways that COVID-19 is shaking up commercial real estate. 

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Sponsored Content

CRE Developers Recognize Growing Business Case for Wood Construction

Sponsored by Think Wood

The benefits of building CRE structures with light-frame construction, mass timber and pre-fab wood can include cost savings, faster production and a competitive edge for properties.

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NREI Wire

Real Estate Investors Are Taking ‘Barbell’ Approach to Crisis

Bloomberg

CRE investors are looking for both assets that have been hard-hit by the pandemic, as well as more stable properties.

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Malaysian Bank Sued for ‘Thwarting’ Luxury Tribeca Condo Tower

Bloomberg

A New York City condo building developer filed a lawsuit against the bank for reneging on an agreement for a construction loan.

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Eight Must Reads for the CRE Industry Today

By NREI Staff

Restaurant companies with locations in multiple states struggle to navigate rules to reopen, reports the Wall Street Journal. A third of America’s malls are shutting down permanently by 2021, according to CNBC. These are today’s must reads from around the commercial real estate industry.

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