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10 Must Reads for the CRE Industry Today (April 1, 2020)

Some of the most risk-hungry real estate lenders are starting to come under pressure, reports the Wall Street Journal. Walmart will screen the temperatures of employees and provide them with masks and gloves, according to Business Insider. These are among today's must reads from around the commercial real estate industry.

  1. Real-Estate Lending Funds Feeling Squeezed by Banks and Developers “Shares of some commercial mortgage real-estate investment trusts trade at prices that indicate investors are concerned.” (Wall Street Journal, subscription required)
  2. Walmart Will Screen the Temperatures of Its 1.5 Million US Employees and Provide Them with Masks and Gloves “Walmart will start checking the temperatures of its 1.5 million US employees when they report to work and send home anyone with a temperature greater than 100 degrees Fahrenheit, the company said Tuesday.” (Business Insider)
  3. Coronavirus Lands Another Blow to Senior Housing Operators “The industry was facing financial pressures from a supply glut even before the pandemic erupted.” (Wall Street Journal, subscription required)
  4. Homeland Security says Real Estate is “Essential Business” “As the real estate industry remains split on whether the services it provides are “essential” during a pandemic, one federal agency has weighed in with an emphatic ‘yes.’” (The Real Deal)
  5. Studies See Potential Lift for Metro Philly’s Office Market in Post-Virus Boost for Life Sciences “The Philadelphia region’s office market may recover more smoothly from the coronavirus than other metros’, thanks to the major role played by its health-care industries, according to a report by national real estate services firm Newmark Knight Frank.” (Philadelphia Inquirer)
  6. Largest US Mall Owner, Simon Property, Furloughs 30% of Workforce, Adding to Avalanche of Coronavirus-Related Retail Layoffs “The biggest U.S. mall owner, Simon Property Group, has furloughed about 30% of its workforce, CNBC has learned, as the company copes with all of its properties being temporarily shut because of the coronavirus pandemic.” (CNBC)
  7. My Fellow Landlords, Let’s Give Our Tenants a Break on their Rent Next Month “I am a small landlord in upstate New York, and I am offering my tenants a break on their rent next month. I hope other landlords will consider doing the same.” (Washington Post, subscription required)
  8. Hobby Lobby Quietly Reopened Stores in At Least 2 States, Defying Coronavirus-Related Shutdowns and Prompting Police Intervention “As Hobby Lobby continues its mission to keep doors open in the face of the coronavirus, the arts-and-crafts retailer is quietly reopening stores around the country, defying states' stay-at-home policies.” (Business Insider)
  9. Publix Offering Rent Assistance to Tenants in its Shopping Centers  “Publix is offering rent relief to its tenants who have closed their businesses due to the coronavirus pandemic.” (Tampa Bay Times)
  10. Sale of Trump’s D.C. Hotel on Hold as Commercial Real Estate Industry Reels “The commercial real estate industry has ground nearly to a halt because of coronavirus shutdowns, forcing buyers and sellers of major properties, including President Trump’s company, to put their plans on hold.” (Washington Post, subscription required)
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