"While cap rates are at record lows, the premium on cap rates for the newest assets is at an extreme as well."

Ever since the start of the pandemic, smart money has been waiting patiently for opportunities to invest in distressed assets. Could it be that they were wrong?

Meanwhile construction costs continue to rise, as do industrial rents and e-commerce-fueled demand.

Sixty percent of the hotel or motel conversions were for multifamily housing, workforce housing, housing for veterans or housing for health care workers.

The 80% who paid by May 6 is a 0.1 percentage point decrease from the share who paid rent through May 6, 2020.

The temporary covenant waivers provided to borrowers in 2020 due to COVID-19 will have to be extended in 2021.

At the same time, the share of renters missing payments dipped from 7.9% in December to 7.7% of renters in March.

"Doral is really coming into its own right now," said Ron Castan, who represented Miami-based real estate developer Terra in the deal.