REBusinessOnline

CBRE Predicts 60 Percent Drop in Hotel RevPAR in Second Quarter Due to Pandemic

LOS ANGELES — As the impact of the COVID-19 pandemic continues to develop, CBRE Hotels Research has released a revised Viewpoint Hotel 2020 Outlook. The firm now expects gross domestic product (GDP) growth for the United States to slow to 0.4 percent in 2020, down from its previous estimate of 1.9 percent. CBRE expects a sharp drop in economic activity in the second quarter, stabilization as early as third-quarter 2020 and a recovery underway by the fourth quarter. “Governments …

COVID-19 Webinar Recap: Student Housing Owners, Operators Talk Best Practices, Industry Impact

The coronavirus (COVID-19) is having a widespread impact on the off-campus student housing industry. Many off-campus owners and operators are grappling with a growing number of universities canceling in-person classes, and in some instances, ordering students to vacate their campuses and residence halls altogether. On Wednesday, March 25, Student Housing Business (SHB) held a complimentary webinar on the impact of COVID-19 on the off-campus student housing industry. The webinar had nearly …

COVID-19 and Commercial Real Estate: What We Know, What We Don’t

The coronavirus pandemic (COVID-19) has not only impacted the physical health of humans around the world, but the health of the U.S. economy as well. While the stock market rallied over 11 percent on Tuesday, its biggest jump in nearly 90 years, on news that a federal stimulus bill to rescue the economy from the coronavirus was imminent, the Dow Jones Industrial Average was still down 31 percent from its most recent high at the closing bell. Meanwhile, economists say weekly jobless claims — …

Charlotte Surges into the First Rank of U.S. Growth Markets

Charlotte is America’s second-largest commercial banking center, home to one of the country’s biggest financial institutions, Bank of America; soon the headquarters site of another when BB&T and SunTrust merge; and host to more employees of Wells Fargo than call its San Francisco base home. It would be hard to exaggerate the economic benefits the local market secures from this status. One growing but not widely appreciated benefit is the Queen City’s emergence as one of the …

The Coronavirus Outbreak: A Guide to The Impact on Student Housing

The impact of the coronavirus (COVID-19) is being felt across every sector of the U.S. economy as the virus continues to spread worldwide. The student housing industry is not exempt, as the number of colleges and universities canceling in-person classes continues to grow, with some requesting that students vacate residence halls immediately for the remainder of the spring semester. The number of confirmed cases in the U.S. has climbed to 10,442 and the death toll has risen to 150 as of …

Managing Volatility, Disruption Is Crucial to Multifamily Debt Market, Says Freddie Mac’s Martinez

As markets, consumers and businesses react to the novel coronavirus, lenders and mortgage bankers across the country find themselves reflecting on the volatility that characterized the multifamily debt market in 2019 and wondering just how similar 2020 could be. To be sure, market uncertainty is par for the course during presidential election years, and the market event related to coronavirus is creating additional anxiety. The multifamily debt markets are also working to move away from the …

Coronavirus Resources for the Commercial Real Estate Industry

As concerns about coronavirus (COVID-19) mount and the stock market is impacted, REBusinessOnline has compiled a number of commercial real estate industry reports to help readers find the information they need. The reports are organized by relevance and timeliness. Please check back often for new resources as they become available. Interested in coronavirus-related news items posted by REBusinessOnline? Click here for the feed. Interested in commercial real estate-related webinars …

JLL: Coronavirus Is Impacting Retail Supply Chains

With the stock market dropping to lows unprecedented since the Great Recession on Monday and the World Health Organization (WHO) declaring the outbreak of COVID-19 a pandemic, concerns are now rising regarding coronavirus’ long-term impact on domestic investments. But will the disease have any impact on brick-and-mortar retail? According to a research report from JLL, while retail supply chains have already been affected, the health of retail as whole depends heavily on how long the …

Breweries in the Northeast Tap into Local Culture to Attract Patrons

The modern craft beer brewery has emerged as a niche community anchor with flexible business models and loyal customer bases across the United States, particularly in the Northeast. Combining elements of retail, industrial and hospitality models, craft breweries have quickly become one of the most dynamic and trendy business types in major cities and small towns, alike. Some of the largest and most popular craft breweries in the United States are based in the Northeast, including the two …

Opportunity Zones, HUD: Delivering More Workforce Housing

Many of today’s headlines about multifamily housing have focused on the market’s two extremes: homelessness and high-end penthouses. Meanwhile, a crisis has been growing in the “missing middle;” there is a shortage of affordable rental housing for middle-class workers like teachers, firefighters and police officers. In recent years, middle-income families have been struggling with flat wages and rising childcare, education and healthcare costs. Not only are families being priced out …

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