Although COVID-19 has certainly disrupted the real estate world, it has also, paradoxically, generated a novel opportunity for the industry and its evolution.
In many instances, the commercial property and sales tax revenue generated from a WPG asset is essential to the municipality within which it is situated, Louis G. Conforti writes.
In Chapter 11, the debtor will usually seek permission to use the income generated by the property. But if the license to use rents was terminated prior to bankruptcy, the rental income no longer is considered property of the debtor.
Despite the fact that national QSR chains are reporting an average dip in sales of about 25% in the coronavirus, their NOIs have not changed significantly.
Two recent developments will help many in the hospitality, restaurant and tourism industries avoid permanently shuttering their businesses due to the global COVID-19 pandemic.
The principals at George Smith Partners knew that there would be very few deals at that juncture, so it was critical to their survival to be positioned as one the few capital market advisers that were still doing deals.