NREI Daily
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JUNE 5, 2020

Top Story

Takeaways from Nareit’s REITWeek 2020

In a year marked by countless canceled commercial real estate industry events, this week Nareit conducted its annual REITweek Investor Conference—normally a multi-day event held in New York City—as an all virtual event. It provided an opportunity for REIT executives at firms representing every property type to discuss recent performance and give guidance as to what to expect in the months ahead. NREI spoke with Calvin Schnure, Nareit senior vice president, on his takeaways from the event.

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Analysis

Industrial

Having Proven Resilient in a Pandemic, Industrial Assets Appeal to a Larger Group of Investors

Industrial real estate is weathering the COVID-19-related economic downturn better than many other sectors, due to acceleration in e-commerce during the quarantine, combined with increased demand for storage near ports as a wave of products arrived from China just as U.S. consumer demand declined.

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NREI Wire

Fight Over ‘Predatory’ J.C. Penney Bankruptcy Loan Gets Ugly

The U.S. retail giant filed for Chapter 11 protection last month with a $900 million financing package lined up from senior lenders including H/2 Capital Partners LLC and Silver Point Capital LP, according to a presentation at the time. Another set of lenders has lambasted the deal, calling the terms “predatory” in court documents and accusing the other group of strong-arming J.C. Penney.

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A $30 Billion Property Investor Says Offices Remain a Good Bet

The head of real estate at Norway’s $1 trillion sovereign wealth fund, the world’s biggest, says he expects office space to stay in demand, even though the Covid-19 crisis will leave its mark.

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Eight Must Reads for the CRE Industry Today

Simon Property Group is now suing Gap for failing to pay more than $65 million in rent and other charges, reported CNBC. Small businesses that were already struggling from COVID-19 shutdowns now have taken a second blow from looting in some cities, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

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