- NMHC Payment Tracker Finds 80.4 Percent of Apartment Households Paid Rent as of March 6 “The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 80.4 percent of apartment households made a full or partial rent payment by March 6 in its survey of 11.6 million units of professionally managed apartment units across the country. This is a 4.1 percentage point, or 474,942 household decrease from the share who paid rent through March 6, 2020 and compares to 79.2 percent that had paid by February 6, 2021. This data encompasses a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.” (NMHC)
- Office App Makers Cashing in on Pandemic Safety Needs “Investors are pouring money into phone apps that enable companies to monitor employees’ movements and ensure they are complying with social distancing and other Covid-19-related health protocols. Employers can tell from a glance at the screen whether a conference room has exceeded the number of employees who can safely meet, or whether too many people are on one floor. Workers can also use these apps to take precautions like checking how many colleagues are using the gym, or how recently the cafeteria was sanitized.” (Wall Street Journal)
- How LeBron James Uses His Influence to Improve Community Development “Professional sports stars often use their prominence to influence public opinion and advocate change, including in real estate development. One standout is LeBron James, the Los Angeles Lakers forward and four-time National Basketball Association champion. In Akron, Mr. James is building a model for advancing education and social assistance in the West Market Street neighborhood, where he was raised.” (The New York Times)
- Rising Rates Pose Risk for Net Lease Sector “Rising 10-year Treasury yields pose increasing headwinds to net lease REITs, but the sector is positioned to deliver better earnings growth this year as acquisitions increase and tenants regain post-pandemic footing. Most REITs outlined in new analysis by Baird Equity Research are posting favorable acquisition guidance, and quality assets are in big demand, which may lead to cap rate compression.” (GlobeSt.com)
- U.S. Real Estate Investors Attracted to British Pubs “The pandemic hasn’t stopped Brits from drinking. But it has been a bad year for the U.K.’s 47,200-strong pub sector, which has been battered by three national lockdowns, long-term bans on eating and drinking indoors, and restricted operating hours. Yet even though lockdown restrictions are expected to remain until at least June 21, there are recent signs that this classic British institution is on the path to recovery.” (Wall Street Journal)
- Discount Chains Thrive Amid Retail Meltdown “Discount stores like Five Below, Home Goods, TJ Maxx, and Dollar General are preparing to open more stores even as larger retailers face challenges.” (The Real Deal)
- Here’s Why Banks May Not Be Able to Pull Off Permanent WFH “As President Joe Biden previews new plans to increase Wall Street oversight, banks and financial institutions have another issue to contend with: how to carry their more flexible WFH policies into an era of more regulation. Many banks—like many corporate tenants more generally—have adopted a wait-and-see approach to office space strategies, and they’ve declined to state whether remote work will be their norm once the pandemic wanes.” (GlobeSt.com)
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