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Commercial real estate news, developments and predictions surrounding Covid-19.
Delinquency rates for retail CMBS loans in Manhattan are up to an all-time high of 16.78%, and special servicing rates are at 17.55%.
Colliers International projects the retail market will rebalance next year with in-store sales increasing 5.9% and online sales decreasing 8.5%.
The COVID-19 pandemic created a "unique environment of pressure on all sides" in this bankruptcy case, debtor's counsel said.
As fundamentals deteriorate further, one owner expects assets to hit the market.
In 2020, COVID-19 pushed the peak leasing back to May.
The medical sector should benefit from strong demographic trends.
The DCBID is looking at how reduced commuter traffic is changing the dynamic of the urban core.
Even if there isn't real distress in the market, a lot of developers will still want to get out of deals as their equity will have been wiped out.
The joint venture acquires 10 last mile properties totaling 896,205 square feet in Denver, West Palm Beach, Charlotte, San Antonio, and Fort Worth.
Servicers are being less supportive with retail workouts, and appraisers are harsher with longer-term cash flow projections.