- SF’s Beloved Small Businesses Say a Sad, Quiet Goodbye as Chance of Quick Economic Rebound Disappears “Scores of beloved San Francisco small businesses have closed for good with no end in sight to the COVID-19 pandemic.” (San Francisco Chronicle, subscription required)
- California Shopping Center King Rick Caruso Is Back—And Cheering On The Demise Of The American Mall “Thanks to a reopening of California and a preponderance of data showing that the virus is less likely to be transmitted outside, real estate billionaire Rick Caruso’s outdoor destinations are booming once again.” (Forbes)
- $100 Million Fund to Convert Bay Area Hotels to Homeless Housing Draws 20 Applications — None in SF “A state-run program to convert hotels into permanent housing for homeless people has attracted nearly 20 applications throughout the Bay Area, with a big deadline looming next week.” (San Francisco Chronicle, subscription required)
- JP Morgan Provides $434M CMBS Package to Refi Huge Industrial Portfolio “El-Ad Group affiliate gets $434 million CMBS package from J.P. Morgan Chase to refinance a 6.1-million-square-foot portfolio.” (Commercial Observer)
- Additional Unemployment Payments Are Done, Missed Rent Payments Are Just Getting Started “32 million Americans are currently receiving unemployment benefits, without which many will be in a difficult position come the first of the month.” (GlobeSt.com)
- Passive Fund Investment Set to Boost Private Real Estate Market “Increased passive investment into real estate investment trusts (REITs) is set to drive a new wave of capital into private real estate markets and bring fundamental change to the U.S.” (JLL’s The Investor)
- Florida Ports Suffer Huge Economic Losses from COVID-19 Outbreak in 2020 “This week, the Florida Ports Council sent a letter to members of Congress urging relief for the maritime sector based on the new economic impact analysis.” (World Property Journal)
- COVID-19 Impact Concerns on the Rise in CRE: NAIOP Study “NAIOP’s latest monthly survey finds improved activity in some aspects of the industrial and office markets but increasing pessimism about the pandemic’s long-term effects.” (Commercial Property Executive)
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