DAILY READS: April 1, 2020
Renters may need $12 billion. Sale of Trump's hotel on hold. How are states limiting construction? Here’s a batch of other critical content for you to read, listen to or watch.
Commercial Real Estate Industry Coming Up With Creative Spin for Rent Deals
“Worried businesses are also flooding brokers and lawyers to ask if they must pay their April 1 rent. (Savills’ William) Montana tells his clients to pay if they can. ‘But send it along with a note that says, ‘If things go on, we may have to have a conversation—but for now, we are all in this together,’” he says. Read more
New York Post
NAIOP: Coronavirus Will Accelerate These Commercial Real Estate Trends
“’CRE was faced with technological disruption before this crisis,’ (New York University’s Dr. Timothy) Savage said. ‘This crisis is more of a natural disaster than a financial crisis; the significance of which is that on the other side of it, the fundamentals will be the same, they have just been moved further along the continuum.’” Read more
AZBigMedia
U.S. Renters May Need $12B in Monthly Support
“Renters across the U.S. may require $7 billion to $12 billion each month in temporary assistance over the next three to six months as the coronavirus puts a deep freeze on the economy, according to a new report by data and analytics firm Amherst. The company estimates that anywhere from 15 to 26 percent of all rental households will feel significant pain from the temporary business closures that have already led to millions of unemployment claims. Read more
MultiHousing News
Sale of Trump’s D.C. Hotel on Hold as Commercial Real Estate Industry Reels
“We have toured only the most discerning buyers and are proud to be representing such an iconic asset,” (Jeffrey Davis of JLL) said. “Trump International Hotel, Washington D.C. is one of the finest hotels anywhere in the world and we look forward to working with the Trump Organization on finding the right fit once the industry is back up and running.” Read more
Philadelphia Inquirer
Coronavirus Construction Limits: State-By-State Tracker
“Currently, millions of Americans are required to stay at home to prevent the spread of the novel coronavirus that causes COVID-19. To ensure the safety and prosperity of their communities, governors and other authorities are allowing ‘essential’ businesses to stay open. This dashboard tracks how states with a stay-at-home mandate classify Construction and Building Material Suppliers. Please check back frequently; we will provide additional details and resources as they become available.” Read more
Multifamily Executive
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