- Lower-Tier Mall Properties Face Increased Strain from Department-Store Woes “On the surface, the May bankruptcy filing of J.C. Penney was a minor event in the universe of commercial mortgage-backed securities.” (Asset Securitization Report)
- Real Estate CEO Captaining New Coronavirus Data Collection From CDC “A real estate developer and investor is at the helm of the company taking over tracking coronavirus data from the CDC.” (Bisnow)
- With Indoor Dining Upended, Some Restaurants Call It Quits “After withstanding months of coronavirus restrictions, eateries are closing as pandemic cases surge.” (Wall Street Journal, subscription required)
- Opportunity Zone Investments By Family Offices Will Increase In 2021 “The result appears to be family offices increasing their allocations from 2019 to 2020, according to a study my team at Family Office Real Estate completed this year.” (Forbes)
- Silverstein Snaps Up Iconic Asset At Major Discount In First West Coast Foray “New York-based Silverstein Properties made its first foray into the West Coast with the acquisition of U.S. Bank Tower in downtown Los Angeles.” (Bisnow)
- Men’s Wearhouse Owner Tailored Brands Plans to Shut 500 Stores, Cut 20% of Corporate Workforce “The parent company of Men’s Wearhouse announced a round of layoffs and hundreds of looming store closures Tuesday, as its business suffers a blow from the coronavirus pandemic.” (CNBC)
- Affordable Developers Worry About Building More Housing Amid Budget Cuts “When the New York City Council pushed through a budget two weeks ago that slashed the city’s affordable housing spending, developers and nonprofits were reeling over the possibility of delayed projects and thousands of affordable apartments lost.” (Commercial Observer)
- 10 Key Considerations for Commercial Real Estate Loan Restructurings: A Primer “As a Primer for those lucky few real estate owners and advisors that have not worked through previous real estate cycles (and as a refresher for those unfortunates, like myself, who have), here are ten key considerations to guide you generally in pursuing loan restructuring transactions with your lenders.” (The National Law Review)
- Why Covid-19 Makes It Harder for Cities to Fight Climate Change “Energy bills and carbon emissions rise as office buildings pull in more outside air to keep workers safe.” (Wall Street Journal, subscription required)
- Coronavirus Economy: Office Leasing Slumps in Bay Area “Silicon Valley, East Bay, Peninsula office markets turn sluggish.” (The Mercury News)
- Walmart Will Close Stores on Thanksgiving, Ending a Black Friday Tradition that Drew Huge Crowds “Walmart on Tuesday said it planned to keep all its stores closed on Thanksgiving Day.” (Business Insider)
- New Jersey Industrial Park Lands $104M in Construction Loans “Cushman & Wakefield arranged the funding for Advance Realty Investors and Greek Development, which are planning a 3.2 million-square foot project in metro Philadelphia.” (Commercial Property Executive)
- After CEO’s Passing, Prodigy Network Goes Dark “Rodrigo Niño's crumbling crowdfunding company leaves thousands of investors without answers.” (Commercial Observer)
- Californians Can Get Their Hair Done Outdoors — But No Shampoos “Californians will be allowed to get their hair cut and their nails done outdoors, Gov. Gavin Newsom said Monday, a week after he ordered personal care services shuttered again in most of the state amid a surge in coronavirus cases.” (San Francisco Chronicle)
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