Weekly Shorts - April 6th, 2020

Updated: Apr 10, 2020

CBRE projects 37% decline in hotel RevPAR for 2020. They believe hotel losses will stabilize by Q3.
Industrial & Logistics REIT, Prologis, see's signs of Chinese economic recovery and believes US & Europe will follow a similar path. "Despite lockdowns and travel restrictions, lease-signing in China continued - albeit at a slower pace."
FNMA & FMAC are offering mortgage forbearance for apartment owners if they suspend evictions for tenants unable to pay rent due to the coronavirus.
Meanwhile, U.S. mall owner, Taubman, is telling tenants they must pay rent.
Last week national restaurant chain Cheesecake Factory publicly announced it would not be paying any rent during April. Perhaps, opening the door for other retailers to follow suit.
Real estate gears begin to turn again in NYC as brokers are now considered "essential business." Appraisals, inspections & showings may resume.
National asking cap rates in the NNN-lease sector increased during Q1 with Retail at 6.15%, Office at 7%, and 7.05% for industrial properties.

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