Commercial Real Estate & Business News – June 30, 2020

Lenders Provide “Mixed Bag” of Relief to CRE Borrowers
Lenders and CMBS special servicers are still scrambling to work through the growing backlog of forbearance and relief requests. Borrowers looking for clues on just how far lenders are willing to bend-and what comes after initial relief expires-are finding…»
Apartment Rents in Some Phoenix Areas Have Recovered from the COVID-19 Dip
West Valley apartment landlords in the Phoenix metropolitan area can celebrate a return to pre-virus rent levels that their counterparts in other submarkets have yet to witness. Across the Phoenix market, apartment communities reacted quickly to the economic disruption…»
LA Multifamily Investor Attracts Financing Partner to Phoenix Market
Los Angeles-based Tides Equities LLC – which has been buying up multifamily apartments in the Valley during the past few years – has brought a new equity partner to the mix. Tides Equities teamed with Chevy Chase, Maryland-based FCP to buy the Tides…»
$43M Wyatt by Watermark Will be Developed in Gilbert
Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced today the acquisition of 10 acres of land for $5.5 million in the Phoenix suburb of Gilbert, Ariz. The company will develop The Wyatt by Watermark…»
Remote Work Is Here to Stay, But Office Footprints Likely Won’t Shrink
The COVID-19 pandemic will set a “new normal” for the office workplace as companies adopt and integrate remote work practices deployed during the pandemic, according to a new report from Cushman & Wakefield. Consequently, it will morph…»