COVID-19

Developers can still secure entitlements through an all-virtual process. Even public hearings are done online.

To make deals in this environment, buyers need discounts and time.

A host of other publicly-traded real estate companies, including Simon Property Group, Vornado Realty Trust, CBRE Group and Cushman & Wakefield, have made similar reductions in compensation.

In the short-term, JLL sees capitalization rates rising 25 to 75 basis points for active adult, independent living and assisted living facilities, and 50 to 100 bps for memory care and nursing care.

Citadel at Tech Ridge's developer, Cambridge Development Group, was one step ahead of the curve when it incorporated a business center and co-working spaces into the multifamily property's design.

In March, as the coronavirus pandemic was taking hold on the nation, foreclosure rates were dropping to the lowest levels since the recession.

Despite challenges, there are opportunities facing economic subsectors and the market as a whole along with factors that will determine the severity of the pandemic's impact on the multifamily sector.

Several 1031 exchange deadlines have been extended to provide investors with options to get through the pandemic.