Though there is some erosion in fundamentals, apartments are doing much better than retail. "Things are holding up better than I think most of us would have anticipated," says Brian Stoffers, global president of Debt and Structured Finance for Capital Markets at CBRE.
But the problems in retail may be catching up to multifamily.
"I think some of those ground floor tenants in mid-rise, mixed-use multifamily are facing problems," Stoffers says. "There are typically restaurants and service providers that have been more affected by COVID."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
