May 1st, 2020
The State-by-State Battle to Fend Off the Coronavirus
When are 4.5 million jobless claims good? When they’re down from 5 million. That’s the reality of the situation right now, and the continued drop in those Googling “how to file for unemployment” suggests the fall will continue.
Scores Of Restaurants Are Likely To Close For Good, Reshaping The Retail Market
The restaurant industry is preparing for a long, uphill battle.
Mystery May: Landlords Armed With April Data Still Unsure What May Will Bring
For all of the pain April seemed to promise, most landlords — with the exception of retail owners — were left pleasantly surprised:
Governor Hogan Announces $1.6 Million In Grants To Maryland Companies Producing PPE In Response To COVID-19
“Ramping up our supply of PPE is a critical building block in our state’s recovery plan, and we are taking an all-hands-on-deck approach to secure these resources for our front line workers,” said Governor Hogan. “I want to thank and commend the local businesses who have shifted their operations and increased production to help us save lives and flatten the curve.”
Celebrate May Day In A New Way During Coronavirus
The Garden Club of Old Annapolis Towne encourages residents and businesses to celebrate May Day by setting out a basket of flowers May 1
Nation’s Office Brokers Grapple With New Coronavirus Reality
“At first, the client and I weren’t able to shake hands, but as we toured about five buildings, I started noticing how many times I touched something like a handrail, an elevator button, a bathroom door or another point of contact,” said Brehm, a partner at Minneapolis brokerage Kenwood Commercial. “That’s when I saw the magnitude of what was to come.”
CoStar Projects $148 Billion in CMBS Loan Defaults Over Two Years
Distressed Property Sales, Particularly in Multifamily, Could Trigger a Time to Buy for Risk-Taking Investors
The coronavirus crisis is undeniably causing pain for many commercial property owners and lenders. However, for risk-taking investors, this could be a long-awaited opportunity to go bargain hunting.
Over the next two years, the market could expect to see 13,000 loans totaling $148 billion held in commercial mortgage-backed securities default, according to a new analysis by CoStar Risk Analytics. That represents 14% of the loan count and 11% of the dollar amount that currently make up the CMBS universe. Loans on multifamily properties lead the vast majority of projected defaults based on one scenario of significant economic decline.