On June 4, InterFace Net Lease and France Media hosted the first industry-wide webinar to discuss net lease/sale-leaseback market conditions related to the impact of coronavirus: “The State of the NNN Market as the Industry Emerges from COVID-19.”
In this panel discussion, net lease experts explain the short- and long-term impacts of COVID-19 on the world of triple net lease, as well as the challenges and opportunities investors and developers may see as the country reopens after months of shutdown.
What can we expect as from a bank liquidity point of view? Per Karl Francetic of Realty Investor Capital: “[When the crisis first happened], there were a bunch of tenants that weren’t sure how if and how they were going to be paying their rent. They all got PPP loans, and now everybody has paid their rent. July is going to be the first month where they’re not going to have that PPP funding. It’s going to be very telling what happens. Are tenants going to be paying their rent and are things going to be back on track without PPP, or is the government going to go and do another stimulus, which then can extend that kind of uncertainty in terms of how long it’s going to take to rebound from this?”
discuss the following topics:
- How has COVID-19 changed the development landscape in terms of what should be built moving forward and how it should be designed?
- When will the capital markets come back to life for both investment & development transactions?
- How is COVID-19 impacting valuations, both short and long term?
- Is the NNN market more likely to snap back than the traditional office, industrial and retail investment markets?
- Given the financial distress of many corporations, could sale-leaseback activity increase in the next 12 to 18 months?
Panelists:
- Patrick Nutt of SRS Real Estate Partners (moderator)
- Brian Mansouri of AR Global
- Gino Sabatini of W. P. Carey
- Ryan Cockerill of Agree Realty
- Evan Gower of GBT Realty Corp.
- Karl Francetic of Realty Investor Capital
Webinar sponsors:
W.P Carey is one of today’s largest diversified net lease REITs that provides long-term sale-leaseback and build-to-suit capital solutions primarily for companies in North America and Europe. They have a long history of providing capital to publicly traded and privately held companies, developers, private equity firms and their portfolio companies, as well as liquidity to institutional owners and investors with shorter investment horizons.
SRS Real Estate Partners, who are retail real estate specialists, not just another commercial real estate firm. Their brokers and professionals provide services and solutions that evolve to meet today’s trends and challenges and adapt to their clients’ needs. Put simply, when clients, prospects and industry leaders think of SRS, they think “retail experts.”
AR Global is a global asset manager that began with the goal of transforming the direct investment industry by introducing investment vehicles with innovative and distinct, investor-first features.