Even after the worst stage of the COVID-19 pandemic ends, how we use physical spaces will be transformed for the foreseeable future.
Lenders who are looking to finance the chain’s potential bankruptcy are having trouble finding enough assets to secure new loans.
Hudson’s Bay has missed CMBS payments on part of its $696 million financing for Saks Fifth Avenue and other stores.
The U.K.-based real estate investors have bought a Fifth Ave. retail condo from SL Green for $170 million.
As long as fears of getting the virus persist, consumers will probably spend more on their homes than services and experiences.