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Eight Must Reads for the CRE Industry Today (July 24, 2020)

President Donald Trump announced his administration will provide $5 billion to help nursing home facilities counter the virus, according to the Associated Press. Rent growth at single-family rentals has slowed down considerably, reports GlobeSt.com. These are among today’s must reads from around the commercial real estate industry.

  1. White House Scrambles on Nursing Homes as COVID-19 Surges “Fearing another grim wave of nursing home deaths as COVID-19 cases rebound, President Donald Trump on Wednesday announced his administration will provide $5 billion to help facilities counter the virus.” (Associated Press)
  2. In Virus Era Global Alternative Lenders Gain Attention “Real estate investors are increasingly eyeing alternative lenders amid the uncertainty and chaos brought about by the novel coronavirus, according to a team from JLL.” (GlobeSt.com)
  3. Rent Collections Improve as New York Reopens “The slow reopening of the economy in New York City appears to have led to a slight improvement in residential rent collection for July, although it is still below normal.” (Real Estate Weekly)
  4. US Single-Family Rent Growth Posts Significant Drop “Rents for single family homes increased 1.7 percent in May, down 2.9 percent since May 2019, according to a recent report by CoreLogic.” (GlobeSt.com)
  5. Blame Spreads for Nursing Home Deaths Even as N.Y. Contains Virus “With more than 6,000 nursing home residents dying of the coronavirus, a fight over whether relatives should be allowed to sue has erupted in Albany.” (The New York Times)
  6. San Francisco’s Ferry Building to Close Under Coronavirus Health Orders “San Francisco’s Ferry Building is closing 26 shops effective immediately Wednesday after the city ruled the famous food destination was a mall.” (San Francisco Chronicle)
  7. Retail Workers Slammed by Job Cuts, Pushed into New Roles as Coronavirus Shakes Their Industry “Retailers and their employees are staring down challenges that could determine their longer-term fate — such as the spread of the coronavirus across the sunbelt and the risk of a second Covid-19 wave in the fall.” (CNBC)
  8. Bay Area Students Choose Gap Year Over Remote or Unpredictable College Experience: ‘People Are Bailing’ “Many students, wary of the virus forcing schools to pivot to distance learning, are choosing to delay the start of their college careers — even though the pandemic also has curtailed traditional gap-year adventures, such as international travel, and made jobs harder to land.” (San Francisco Chronicle)
  9. San Francisco’s Ferry Building to Close Under Coronavirus Health Orders “San Francisco’s Ferry Building is closing 26 shops effective immediately Wednesday after the city ruled the famous food destination was a mall.” (San Francisco Chronicle)
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