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Nine Must Reads for the CRE Industry Today (July 8, 2020)

CMBS delinquencies surged at a record monthly rate in June, according to CNBC. Real estate developers are on the list of companies that took stimulus loans, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. Commercial Mortgage Delinquencies Surged at Record Monthly Rate in June “Delinquencies in commercial mortgage-backed securities last month had their largest one-month surge since Fitch Ratings began tracking the metric nearly 16 years ago.” (CNBC)
  2. Investment Firms and Real-Estate Developers Took Stimulus Loans Too “The former U.S. operations of a sanctioned Russian bank, a hedge fund partly owned by one of the biggest private-equity firms in the world and a real-estate developer behind two of Manhattan’s most expensive condominium towers were among the financial firms that benefited from a government program designed to help small businesses weather the coronavirus pandemic.” (Wall Street Journal, subscription required)
  3. ‘Time Is Always Money’: Pandemic Lockdowns Hasten Infrastructure Work “Improvement of roads and rails has accelerated, but the crisis has strained budgets, muddling prospects for the projects and the real estate developments that count on them.” (The New York Times)
  4. CRE Financing Gets Harder To Obtain, More Expensive “Lenders want property owners to have more skin in the game as they look to limit their risks. As a result, the cost of capital is going up.” (Bisnow)
  5. Gyms Were One of the Few Bright Spots for Retail Owners Until Covid-19 “As retail real estate swooned in the five years leading up to the coronavirus pandemic, shopping center owners pinned some of their hopes on the expansion of gyms fueled by the health and wellness craze.” (Wall Street Journal, subscription required)
  6. The Troubling Math on Retail Real Estate During COVID-19 Disruption “Brick-and-mortar retail is beginning to bounce back after COVID-19 related closures, but financial pressures remain for apparel boutiques.” (Sourcing Journal)
  7. Simon Property Group Part of Company Bidding for Assets in Lucky Brand Bankruptcy “In a buy-your-business partner move, Simon Property Group might soon be one owner of bankrupt clothing retailer Lucky Brand Dungarees.” (Motley Fool)
  8. REIT Group Says Health and Justice Investment Pays “The events of 2020 have given new urgency to the need for wise investors to factor in every company’s performance in environmental stewardship, social responsibility and good governance — collectively known as ESG.” (
  9. 5 Questions with CEO of Sabal on Commercial Mortgage Forbearances “While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.” (National Mortgage News)
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