Months after the Centers for Disease Control and Prevention (CDC) issued a nationwide eviction moratorium using its emergency pandemic powers under the Public Health Service Act, the efficacy of this unprecedented measure remains unclear. While the Order ostensibly protects tenants facing homelessness or housing insecurity due to the financial impacts…
2020 has been an unprecedented year, and, while there are likely more twists and turns to come before December 31, it is essential to look at how the real estate markets have changed this year and which trends are likely to continue into 2021. The COVID-19 pandemic has impacted nearly…
In episode 18 of Industry Insights podcast, host Joel Simon and Elina Teplinsky discuss the financial community’s response to the energy transition including the focus on novel technologies such as clean hydrogen, advanced nuclear reactors and carbon capture and storage. Joel Simon: With climate change and sustainability dominating the environmental landscape, there has…
In episode 17 of Industry Insights podcast, host Joel Simon and Christian Salaman discussed the changes the hotel and hospitality industry are undergoing. Joel Simon: Christian, you have a really great practice with an emphasis on two industries, one of which seems relatively insulated by the unusual circumstances we’re facing today…
The past few months saw, and continue to see, significant disruptions to the real estate market and the real estate finance market in particular. According to Trepp LLC, June saw the delinquency rate for commercial mortgage-backed security (CMBS) loans hit 10.32 percent, which is just shy of the peak delinquency…
A recent court decision in New York found that current market conditions in the real estate market justify delaying noticing mezzanine real estate foreclosures until October 15, 2020. In “Distressed Real Estate During COVID-19: Court Finds UCC Foreclosure “Commercially Unreasonable” Because of Coronavirus-Related Market Turmoil“, colleagues Caroline A. Harcourt, Patrick E.…
As the COVID-19 pandemic continues to ravage the U.S. economy, restaurateurs and bar owners are feeling the brunt of business closures and adaptations necessary to combat the disease. Where cozy and intimate dining was once de rigueur for the restaurant industry, these businesses must now shift to outdoor dining with…
District of Columbia enacts legislation to provide up to $100 million in grants to eligible businesses for up to 15% of revenue lost due to COVID-19 during the quarter ending June 2020. Landlords can receive grants to partially support their help to eligible tenant businesses. In “District of Columbia Enacts…
Virginia adopted an emergency temporary standard, the first in the nation, that requires business owners to comply with minimum workplace safety standards to prevent and mitigate the spread of COVID-19. The regulations are expected to take effect the week of July 27 and will stay in effect for six months,…
Pillsbury continues to track the impact on construction projects of COVID-19-related orders and guidance in all 50 states and the District of Columbia as well as guidance from CISA and OSHA. We are updating our chart weekly. Click here for the latest COVID-19 Construction Chart. July 27 update – Now updated…