- Private Equity-Owned Nursing Homes Had Higher COVID-19 Infection, Fatality Rates: Report “New Jersey nursing facilities with private equity ownership or investors had higher rates of COVID-19 infections and deaths, a new report from a financial reform advocacy group determined.” (Skilled Nursing News)
- Simon Property Q2 FFO Trails Estimates as COVID-19 Closures Hurt Revenue "Simon Property Group (NYSE:SPG) Q2 FFO per share of $2.12 misses the consensus estimate of $2.23 as the mall owner's domestic and international operations were hurt by ~$1.13 per share on reduced lease income and ancillary property revenues as a result of the COVID-19 pandemic, partially offset by ~36 cents per share from cost reduction initiatives." (Seeking Alpha)
- Marriott Swings to Loss, Cites Demand Recovery From Covid-19 Lows “Marriott International Inc. posted a larger-than-expected quarterly loss on Monday, as travel remained depressed during the usually lucrative summer season.” (Wall Street Journal, subscription required)
- J. Crew Negotiates $130M Rent Cut “Retail giant J.Crew Group said it expects save around $130 million in rent after renegotiating it store leases with landlords across the US.” (Real Estate Weekly)
- What Worked, What Didn’t for CRE Pros Working Remotely “What happened with Eyzenberg & Company highlights what’s happened across much of commercial real estate in terms of how professionals and their firms actually got the job done, and what they’ve learned from the experience.” (Commercial Observer)
- Retail Rent Collections Increased in July “July rent collections for retail properties increased nearly 15% compared to June and 36% compared to May.” (GlobeSt.com)
- CRE Investors Still Taking a Wait-and-See Approach “Second quarter transaction volumes for commercial property remain severely depressed and changes in pricing are moving slower than expected, according to new data by CoStar Group, a leading commercial real estate analytics company.” (Mortgage Professional America)
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