- NMHC Rent Payment Tracker Finds 89 Percent of Apartment Households Paid Rent as of June 13 “The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 89.0 percent of apartment households made a full or partial rent payment by June 13 in its survey of 11.4 million units of professionally managed apartment units across the country.” (NHMC)
- ‘Running on Fumes’: Restaurants Trying to Reopen Face Cash Crunch “Restaurants, with their high failure rate even in good times, have trouble getting financing from banks, and the situation is worse now.” (Wall Street Journal, subscription required)
- Take a Look Inside a Reopened Chili’s Restaurant “Chili’s customers will notice some big changes to the chain’s reopened dining rooms, like fewer seats at the bar, crossed-out benches in the lobby and disinfecting stations on unavailable tables.” (CNBC)
- How Kohl’s Is Surviving Retail Disruption “Department stores were struggling even before the coronavirus pandemic forced many to close their doors for weeks. But Kohl’s is faring better than many rivals.” (CNBC)
- JP Morgan to Advise Freddie Mac in Planned Recapitalization, Conservatorship Exit “Banking giant J.P. Morgan Chase has been tapped by Freddie Mac to advise the government-backed mortgage behemoth on its recapitalization and planned exit from federal conservatorship, a status it and its sister entity Fannie Mae have been under since September 2008.” (Commercial Observer, subscription required)
- Gap in Buyer, Owner Expectations in Property Pricing Continues “While transaction volume and liquidity have fallen, Real Capital Analytics Senior Vice President Jim Costello wrote, it would be “wishful thinking” to expect that the shift in buyer expectations alone will lead to a decline in price.” (GlobeSt.com)
- Caesars Reports Reopened Regional Casinos Post Gains “Caesars Entertainment reported progress at regional casinos as coronavirus restrictions are lifted.” (The Street)
- Walmart Tests New Self-Checkout System in Arkansas Store “Walmart is testing a new shopping system at a location in Fayetteville, Arkansas, replacing its traditional, in-person checkout lanes with self-checkout kiosks.” (Today)
- Hines Plans 52-Acre Life Sciences Hub in Houston “The developer has teamed up with 2ML Real Estate Interests to build the mixed-use project adjacent to the Texas Medical Center.” (Commercial Property Executive)
- ICSC Launches ‘Back. Together.’ Campaign to Help Bring Our Businesses Back to Life and Life Back to Our Communities “The International Council of Shopping Centers, the member network serving the retail real estate industry, has launched its “Back. Together.” campaign, a marketing and branding initiative to help its members communicate with one voice about the importance of retailers and retail real estate as the country seeks to recover from the COVID-19 crisis.” (Business Wire)
- CFOs Look To Further Trim Real Estate Costs “Chief financial officers are targeting real estate expenses for further cost cuts heading into the second half of the year in the latest indication that the expansion of remote work is here to stay.” (Forbes)
- Simon, Taubman Ready for Legal Fight over Ditched $3.6B Dollar Merger Deal “A legal fight is brewing between Indianapolis-based Simon Property Group Inc. and rival mall owner and operator Taubman Centers Inc. over a $3.6 billion merger deal Simon terminated last week.” (Indy Star)
- KKR-led Consortium Buys 6% Stake in Vietnam's Vinhomes for $650 million “A consortium led by KKR (KKR.N) has invested $650 million in Vietnam property firm Vinhomes VHM.HM, Vinhomes’ parent Vingroup VIC.HM said on Tuesday.” (Reuters)
- Warehouses Serve as a Pandemic Haven for Property Investors “Demand for industrial space remains high as consumers stay home and order goods online.” (Wall Street Journal, subscription required)
- Developer Drops Plan to Buy Baldwin Hills Crenshaw Plaza and Add Offices, Not Housing “Developer CIM Group has backed out of a pending deal to buy Baldwin Hills Crenshaw Plaza in the face of opposition from activists in the mall’s South Los Angeles neighborhood.” (Los Angeles Times)
- Without A Trace: For Tenants And Employees, Contact Tracing May Be A Tough Sell “According to the World Health Organization, contact tracing — along with testing — should be the “backbone of the response” in order to slow the spread of the novel coronavirus.” (Bisnow)
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