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10 Must Reads for the CRE Industry Today (March 12, 2020)

The hospitality industry could see an uptick in defaults as debt poses a threat to some hotel owners, reports the Wall Street Journal. The rate cut by the Fed last week led to an increase in refinance applications, according to Forbes. These are among today’s must reads from around the commercial real estate industry.

  1. Debt Poses Threat to Some Hotel Owners as Markets Slide “Hotel owners with heavy debt loads are grappling with the prospect the industry could fall into a tailspin from the spread of the coronavirus, leading to a potential uptick in defaults.” (Wall Street Journal, subscription required)
  2. Refinance Applications Surge To Decade High As Coronavirus Fears Push Mortgage Rates To Record Lows “The sudden rate cut by the Fed last week in response to the coronavirus outbreak led to a swift and sudden rise in homeowners refinancing their loans.” (Forbes)
  3. Commercial, Multifamily Mortgage Delinquencies Remain Low in U.S. “The Mortgage Bankers Association's latest Commercial/Multifamily Delinquency Report is showing this week that U.S. commercial and multifamily mortgage delinquencies remained low in the fourth quarter of 2019.” (World Property Journal)
  4. The Three New Rules Of Investing In Commercial Office Space “If you build a product that customers seek, the location isn't necessarily the most critical element.” (Forbes)
  5. Coronavirus Curtails SoCal Imports, Spelling Fallout for Development and Hotels “The rapid spread and growing fear of coronavirus is disrupting financial markets and devastating the industries that commercial real estate depend on. The fallout is starkly displayed at the ports of Los Angeles and Long Beach.” (Commercial Observer)
  6. Coronavirus Raises Commercial Real Estate Uncertainty “Some impacts on the commercial real estate market are starting to be seen. Reports from Marcus & Millichap and Colliers International predict most impacts to be temporary, perhaps only lasting several months until the spread of the virus is contained.” (Commercial Property Executive)
  7. Strip Retail Centers Are Booming in Baton Rouge “Though considered a more mundane type of retail, as shoppers have soured on the mall experience, many stock market investors—including local investors—are instead turning their attention to strip centers and grocery-store-anchored shopping centers.” (Business Report)
  8. A Healthy Market: Medical Retail Opportunities Flying Off the Shelves “Healthcare systems are actively looking to identify and capitalize on new real estate opportunities, accelerating the trend of medical uses in traditional retail environments. From clinical services to laboratory uses and ambulatory/outpatient facilities, medical retail is on the rise.” (RE Journals)
  9. Downtown Fort Worth Landmark Will Become Luxury Hotel “A landmark downtown Fort Worth skyscraper will be converted into a luxury hotel.” (Dallas Morning News)
  10. Coronavirus Sends City Landlords Scrubbing as Events Are Canceled “Real estate organizations and companies worried about the spread of the novel coronavirus are scrubbing down offices and hotels and canceling events and cocktail parties while tenant companies are deploying workers to separate locations.” (New York Post)
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