Multifamily investors want to buy properties, but are waiting for clarity on price discovery before pulling the trigger on deals.
It may be months before buyers and sellers understand what apartment properties are worth in an economy hobbled by the spread of the novel coronavirus.
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(Bloomberg) -- WeWork was accused in a lawsuit of reneging on a pledge to invest $450 million in a San Francisco development project that was supposed to showcase the WeLive communal living initiative.
Parkmerced Investors LLC sued the troubled co-working startup Thursday in New York state court, saying it abandoned a promise to help build WeWork-designed apartments and communal living space with media rooms, hot tubs and activities such as happy hours and yoga classes. Parkmerced Investors is seeking at least $100 million in damages.
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A lot of property management technologies will go from “nice to have” to a minimum requirement in the next year.
In one sense, when the COVID-19 pandemic is over—and that day will come—and the world is back to work again, property managers will still be charged with the same traditional core responsibilities, namely to provide homes and workplaces that are safe for tenants, residents and staff.
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As companies hone their office re-entry plans, some landlords are betting that companies requiring more space will offset the ones pivoting to remote work. That could help buoy the sector in a post-pandemic recovery, as office footprints expand, some said this week.
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The number of confirmed COVID-19 cases in the U.S. has surpassed 1.7 million and the death count has reached the grim milestone of 100,000. The disease is not going anywhere anytime soon and there remain fears of a large second wave in the fall. In many states, case counts are still rising today, although in some of the early worst-hit hot spots, like New York City, the situation has massively improved.
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Running a business is never easy. No matter how solid your business model is, there are always challenges, and at the small business level, even a thriving business is never too far away from a potential crisis. However, business owners who remain successful figure out how to turn things around when trouble presents itself. These ideas may help you save your company when a crisis occurs:
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A collapse in deal volume and uncertainty for property fundamentals have created a cloud of confusion about commercial real estate valuations.
Many commercial real estate investors are itching to get deals in motion again. The relaxation of stay-at-home orders to varying degrees around the country is getting people out of their homes and back to work. But a big problem now is figuring how much a property is worth.
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David Sturner, the CEO of MHP Real Estate Services, started making calls to members of his team last Friday to deliver some news. The company’s office leasing arm, comprising 16 brokers, is closing.
“We don’t think there will be a lot of brand-new leases,” he said. “People just don’t know how much space they are going to need.”
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Being an entrepreneur is hard enough. In the best of times, it can feel like skydiving without a parachute. So just imagine what it’s like during continued lockdowns, economic uncertainty, and the news about the COVID-19 pandemic changing every day. Actually, you don’t have to imagine it—you’re probably living it.
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As small business owners begin looking towards applying for forgiveness of their SBA Paycheck Protection Program (PPP) loans, the Treasury Department issued highly sought-after guidance on May 13, providing a “safe harbor” from audits or penalties for companies that received a loan under $2 million.
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