- Money, forbearance, and evictions: Landlords want it all from Washington “Trade groups representing the biggest residential players have asked the federal government for an array of relief measures, while also requesting the right to keep evicting renters…. The groups, which range from the National Apartment Association and the National Association of Realtors to the National Multifamily Housing Council, also want more money toward the Agricultural Department’s rural-development and rental-assistance programs.” (The Real Deal)
- IRS Extends Real Estate Investing Tax Deadlines “The Internal Revenue Service (IRS) has given real estate investors a break if an Opportunity Zone investment or 1031 like-kind exchange deadline already underway was impacted by the COVID-19 pandemic. The IRS issued guidance Thursday evening following an advocacy campaign from the National Association of Realtors (NAR).” (Florida Realtors)
- Retailers and Landlords Harder-Pressed to Find Common Ground “Retail tenants are finding it more difficult to negotiate rent reductions or other revised terms that might help them stay in business, saying landlords are becoming increasingly reluctant to grant concessions as their own financial positions continue to deteriorate and their obligations mount.” (Women’s Wear Daily)
- Tightening Credit Standards Challenge CRE Industry “The coronavirus pandemic is making it increasingly difficult for commercial real estate investors to access capital, especially for new construction, which financial institutions see as risky during the best of times. Borrowing costs are on the rise, as banks ratchet up their credit standards in the weeks since the worst health crisis in more than a century began. As a result, increasing numbers of deals are falling apart or never happening in the first place.” (Bisnow)
- Stanley Chera, real estate mogul and friend of Trump, dead at 78 from coronavirus “Real estate honcho Stanley Chera passed away on Saturday after nearly a month-long battle with coronavirus. The 78-year-old developer, who introduced his pal President Trump at last fall’s Veterans Day Parade, had been rushed to New York Presbyterian Hospital in late-March from his summer home near Deal, New Jersey, as the coronavirus pandemic grew.” (New York Post)
- How COVID-19 is Affecting the World’s Sovereign Wealth Funds “The majority of sovereign wealth funds depend on severance taxes on mineral wealth, primarily oil and natural gas, to initially fund and add to the corpus of sovereign wealth funds. While several sovereign wealth funds use their excess currency reserves to establish their sovereign wealth fund, a prime example is the China Investment Corporation, they are in the minority.” (International Policy Digest)
- LaSalle Investment Closes $681M China Logistics Fund “LaSalle Investment Management has completed the first close of its LaSalle China Logistics Venture. The fund and its co-investment vehicle have received initial capital commitments of $681 million.” (CPE)
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