National Weekend Edition
Extended-stay hotels may protect some REITs from hospitality armageddon
The coronavirus pandemic has hammered the hospitality industry, with real estate investment trusts that own and manage hotels and...
finance
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National
Black-led banks combine, focused on multifamily housing
Two banks have merged to form the country’s largest Black-led lender. The combination of Broadway Federal Bank in Los...
Condo project beats the odds, lands $204M loan
A Midtown building that has found buyers for only seven of 68 units since sales launched in 2017 has...
National
Mystery investor dumps big stake in real estate fund
As stocks tumbled last week, an unknown institution sold more than 10.5 million shares of an exchanged-traded fund that...
National
Sale of Victoria’s Secret in jeopardy as buyer tries to back out
A private-equity firm poised to buy a majority stake in Victoria’s Secret wants out of the relationship. Sycamore Partners,...
National
“We’re going to have to redesign everything”: Flex-office heads discuss industry’s survival
UPDATED, April 23, 2020, 6:25 pm: When we finally leave our apartments, pale and scruffy after months at home, what will going back to...
National
Morgan Stanley on firm’s future: “Much less real estate”
In a terrible economy, Morgan Stanley CEO James Gorman appears to have found a silver lining. “We’ve proven we...
National
Cantor Fitzgerald to lay off hundreds of staff
Cantor Fitzgerald is reportedly planning to make hundreds of job cuts, a move that would mark the largest reductions...
National
How to value a property in the time of Covid-19
These days, Quinn Rawh drives from property to property wearing a mask and gloves and makes sure to have...
National
Banks get 120-day deferrals on appraisals
In an extraordinary move meant to keep real estate lending flowing, regulators are permitting banks to move ahead with closing loans without having an appraisal completed in advance. Federal banking agencies released an interim...