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Six Must Reads for the CRE Industry Today (Aug. 7, 2020)

Bay Area cities are approving affordable housing developments, reports the San Francisco Chronicle. The Federal Housing Finance Agency is mandating multifamily property owners with government-backed loans in forbearance to inform renters about the eviction protections that extend to them, according to Forbes. These are among today’s must reads from around the commercial real estate industry.

  1. Landlords In Federal Mortgage Forbearance Must Now Inform Renters Of Eviction Protection “After Congress let the CARES Act eviction moratorium lapse late last month, the Federal Housing Finance Agency announced today a new requirement designed to notify tenants about their rights.” (Forbes)
  2. ‘There’s No Stopping It’: Bay Area Cities Reluctantly Approve Housing In Face of State Laws “One after another, Castro Valley residents called in to a public Zoom meeting Monday night to oppose an affordable housing development on a grassy lot that had long been targeted for residential building.” (San Francisco Chronicle)
  3. Barry Sternlicht on 1031s: Kill Them “Barry Sternlicht compares the coronavirus pandemic to a race at the Indianapolis Speedway gone wrong.” (The Real Deal)
  4. 4 Overlooked Considerations for Reopening Physical Spaces “There is no one-size-fits-all approach for reopening offices. Considerations include a company’s strategy, resources and cost pressures, according to Deloitte’s Steven Bandolik and Francisco J. Acoba.” (Commercial Property Executive)
  5. Condé Nast May Face Fight in Bid to Leave WTC Offices “Glossy magazine empire Condé Nast is looking to move its headquarters out of the World Trade Center — a surprise shift that insiders say could spur a knockdown, drag-out battle with its landlords.” (New York Post)
  6. LA Mayor Threatens to Turn Off Water, Power After Beverly Hills Bash “The mayor of Los Angeles is threatening to shut off water and power to any businesses or residences found to be hosting massive parties during the coronavirus pandemic.” (New York Post)
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