DAILY READS: March 25, 2020
National retailers draw lines in the sand. Federal Realty invests in Hoboken. Why real estate is still a shelter from the storm. Here’s a batch of other critical content for you to read, listen to or watch.
Lawmakers and White House Agree to $2 Trillion Coronavirus Stimulus Bill After Marathon Negotiations
‘The package includes direct deposits for many Americans, $367 billion for loans to small businesses and an unprecedented program that will allocate $500 billion to the Treasury Department. Some of that money will be used to guarantee a Federal Reserve loan program for small and midsize businesses. Larrry Kudlow, director of the White House’s National Economic Council, said the funds could be leveraged into $4 trillion in lending through the Fed.” Read more
MarketWatch
Investors Turn to Safe Haven of U.S. Real Estate in Wake of the Coronavirus
“Why has U.S. real estate remained relatively sheltered from these major global events over the course of history? It’s because real estate is a safe haven for investors during times of global volatility. To that end, we analyzed how the current global financial crisis could lead to an economic slowdown or recession without a quick vaccine in sight. We grouped the influence of the virus into three areas: Financial markets, supply chain and property markets.” Read more
National Real Estate Investor
Longtime Owner Sells Hoboken Portfolio for $189M
“In one the largest single sales of mixed-use properties along on the New Jersey waterfront, Federal Realty has acquired 37 mixed-use buildings in Hoboken, New Jersey for $189.2 million. The 158,000 s/f portfolio includes and 123 apartments located along historic Washington Street and 14th Street, two of Hoboken’s main commercial thoroughfares.” Read more
Real Estate Weekly
Mortgage Industry Lays Out Its Case for Widespread Coronavirus Emergency Relief
“The mortgage industry’s biggest trade and lobbying groups are banding together to push the federal government for widespread relief for all borrowers affected by the coronavirus outbreak in the U.S. In a letter sent this week to the White House and top federal agencies, the housing groups laid out their plan for helping mortgage borrowers and the mortgage business itself deal with the impact of the coronavirus.” Read more
Housing Wire
Big National Retailers Plan to Stop Paying Rent to Offset Coronavirus Closures
“In a brewing fight, chains are calling for rent reductions through lease amendments and other measures starting in April, said the people, who asked not to be named because the discussions are private. Read more
Los Angeles Times
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