Tens of thousands of individuals who poured money into real-estate funds aimed at small investors are now trying to pull cash out during this period of economic turmoil.
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Commercial Real Estate
Only a few months ago, much of the property world was betting the future of the office was one where strangers shared limited space. Now, many are wondering if that model is too rooted in the past.
Mall and shopping-center owners are compiling a blacklist of large, usually financially stable tenants that haven’t paid their April rent.
Coronavirus has caused widespread stress in property assets such as hotels, retail properties and mortgage-backed securities.
With the coronavirus pandemic sharply curtailing travel, more hotel owners are offering their properties to government authorities for medical use.
Simon Property Group is furloughing part of its staff, adding to the growing number of companies shedding workers as businesses shut down to fight the coronavirus pandemic.
As the novel coronavirus causes turmoil in property markets, some of the most risk-hungry real estate lenders are starting to come under pressure.
A number of big landlords are offering rent relief to senior housing operators, the latest sign of trouble for owners in an industry that was struggling even before the new coronavirus pandemic.
Some of the biggest names on Wall Street are saddled with billions of dollars of loans that are rapidly deteriorating in value.
Real-estate giant SL Green’s agreement to sell the former New York Daily News headquarters for $815 million has collapsed after the buyer’s financing pulled out, according to people familiar with the matter.
U.S. banks face crushing losses from commercial real-estate loans damaged by the Covid-19 economic crisis, but the pain might not be as great as in the years following the 2008 crash, a Trepp analysis says.
A mortgage-lending company sponsored by private-equity giant TPG Capital is delaying dividend payments and said it is in danger of running out of money if market turmoil continues.
Many businesses shuttered by the coronavirus are likely to stop paying rent on April 1. That offers them a lifeline to ward off some bankruptcies and layoffs, but could come at a price for the banking sector and economy.
Analysts and investors are concerned that potential new residents could delay their entry into some of these facilities.
Malls in dense, urban locations have generally been more profitable because foot traffic is typically stronger. But with the coronavirus spreading at a faster rate in metropolitan areas, many are poised to take a big hit.
The U.S. hotel industry had about $300 billion of mortgage debt as of the third quarter last year. As the coronavirus outbreak cuts down on tourism, some investors who seized on low interest rates and took out big loans could be at risk.
Tech companies and coworking firms helped spread the popularity of collaborative office seating. Now, those open and more compact spaces may help spread the coronavirus.
The giant Indian hotel company Oyo is expanding its vacation-home rental business to the U.S., another sign that competition in this corner of the lodging market is intensifying.
Airport retail outlets have been a rare success story in the slumping bricks-and-mortar world. Now, duty-free and other airport shops are under siege from the coronavirus.
San Francisco will put to vote next Tuesday a punitive new approach to ending the blight of empty storefronts.