Vaccines, Stimulus Checks are Giving US Retail Sector a ‘Shot in the Arm,’ Says NRF Chief Economist

The U.S. federal government is playing an active role in consumer spending with three stimulus packages passed in the past 12 months, which is helping support the economy during this pandemic-induced recession. Americans have received thousands of dollars from the government and are opting to spend their newfound discretionary income on more goods and services, not to mention savings and paying bills.“It helped a lot of individuals get by,” says Jack Kleinhenz, chief economist for the …

Property Managers in D.C. Can Avoid Unwelcome Property Tax Surprises by Managing Liabilities

By Sydney Bardouil, Esq.After the tumult and disruptions of 2020, the last thing taxpayers need is another surprise. Our society craves predictability more than ever before, and commercial real estate owners want predictability in their property taxes.In the District of Columbia, commercial real estate owners keen to make their future expenses more predictable can start by familiarizing themselves with the full gamut of real property liabilities. In addition to the standard annual …

NRF: US Retail Sales to Grow Between 6.5 and 8.2 Percent in 2021

WASHINGTON, D.C. — The National Retail Federation (NRF) predicts that U.S. retail sales will grow anywhere from 6.5 percent to 8.2 percent this year, with a total of more than $4.3 trillion in sales. The NRF attributes the expected growth in retail sales to the effectiveness of the COVID-19 vaccines over the course of the year, which will lead to stores to be frequented en masse.Many Americans were homebound in 2020 and so in turn they shifted to a more e-commerce focus. Online sales grew …

COVID-19 Takes Heavy Toll on Commercial Property Values

By Brian Morrissey, Esq. and Lisa Stuckey, Esq. of Ragsdale Beals Seigler Patterson & Gray LLPFew commercial properties emerged with unscathed values from the harsh economic climate of 2020. Yet Georgia and many jurisdictions like it valued commercial real estate for property taxation that year with a valuation date of Jan. 1, 2020 — nearly three months before COVID-19 thrust the U.S. economy into turmoil.[caption id="attachment_283346" align="alignright" width="100"] Brian …

Spotlight on D.C.: Apartment Assets Resist Economic Turbulence

The Washington, D.C. metropolitan area has been a perennial favorite for multifamily capital, particularly pension funds, life companies, family offices and other institutional investors and is often regarded as "recession-proof."However, as we all know, 2020 was a year like no other. What impacts have COVID-19 and recent economic turmoil had on this market’s luster, and what do the prospects look like for investors, owners and operators in the long term? An Economy Buffered by …

Southeast Enjoys Outsized Multifamily Demand Due to Stellar Job Growth, InterFace Panelists Concur

The pace at which global corporations are expanding in the Sun Belt is extraordinary. To name just a few companies generating headlines, Amazon is making a sizable investment at its HQ2 in Northern Virginia and new office tower at Nashville, a number of life sciences and pharmaceutical firms are opening in Raleigh-Durham, Microsoft recently executed a full-building lease and commitment of 1,500 jobs in Atlanta and Oracle and Tesla are relocating to Austin, Texas.Researchers believe this …

Lenders Bearish on Retail Sector Except for ‘Prime’ Assets, Says Expert Panel

Since the onset of the COVID-19 pandemic, retail and restaurant space has been severely impacted by government-mandated shutdowns. While some stay-at-home orders have been lifted, the sector has struggled to return to its pre-pandemic norms. As a result, lenders have shied away from retail, whether it be construction, refinancing or acquisition loans, according to an expert panel assembled by France Media, Inc.Retail has “lost a lot of favor” with lenders, said Pierce Mayson, managing …

Affordable Housing Sector is a Seller’s Market as New Buyers Enter the Fray, Says Exclusive Webinar Panel

Like many industries, the U.S. affordable housing sector has undergone a sea change stemming from the COVID-19 pandemic. Processes and protocols have changed for affordable housing professionals, some perhaps permanently. Closings are conducted virtually and some of the front-end work such as appraisals and subsidy applications look completely different than a year ago.The “new normal” that industry professionals are navigating has had a few stops and starts since March, but the sector …

InterFace Roundtable: Capital for Active Adult Investment is Available, but ‘Fickle’

While the recession caused by the COVID-19 pandemic has certainly made life tougher for active adult investors, there is still capital available. It has just become harder to get.“The equity is pretty rational right now. It’s the TINA phenomenon — there is no alternative,” said Mark Marasciullo, chief investment officer with The United Group of Companies, which develops active adult properties. “There is, institutionally speaking, more and more equity piling up on the sidelines. …

Lending Environment Still Rocky Due to Pandemic, Say Panelists at InterFace Carolinas

The lending environment for commercial real estate has started to bounce back in recent months, but there is still hesitation to close deals across most property sectors. There are some attractive opportunities for lenders in today’s climate, such as multifamily and grocery-anchored retail.That was the sentiment expressed during the virtual InterFace Carolinas panel, titled “Capital Markets Update: When and What will Unfreeze the Lending and Financing Environment?” France Media …

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