AltsTech News
AltsTech News
“Blend and Extend” Leases Can Save the Property Industry
By now every commercial landlord in the country has likely had an uncomfortable conversation with at least one of their tenants about rent that was due on the first. Businesses around the country…
Jones Lang LaSalle Income Property Trust Explains Share Price Decline
In an 8-K filing with the SEC on April 2, 2020, the REIT explains the recent decline in net asset values per share. The following is directly quoted, without editing, from the…
Resource Real Estate, LLC Responds to COVID-19
PHILADELPHIA, March 30, 2020 (GLOBE NEWSWIRE) — Resource Real Estate, LLC (“Resource”), as the sponsor of Resource Real Estate Opportunity REIT, Inc., Resource Real Estate Opportunity REIT II…
Goldman Sachs: US GDP to Plunge 34% in Q2; Unemployment to Peak at 15%
Economists at Goldman Sachs rewrote their already grim estimates for the coronavirus pandemic’s economic toll in the U.S., forecasting an even steeper downturn in the first half followed by…
That Rent Concession Could Trigger A Loan Liability
An untold number of businesses, retailers and renters will be unable to make their rent this month due to the disruption from the coronavirus. Landlords have been urged to work with tenants…
California Apartment REIT Buys Dallas Property After Merging Funds
An affiliate of Irvine, California-based Steadfast Apartment REIT is expanding its portfolio in Texas weeks after the company completed a merger of its three sponsored funds with…
Coronavirus Leads to Tough Landlord-Tenant Negotiations
Many retail and restaurant landlords are in a tight spot right now. A lot of their tenants are coming to them asking for rent reductions. And, while the landlords would like to help…
Griffin Capital Essential Asset REIT Cuts Distributions, to Report NAVs Quarterly
In an April 2 letter to shareholders, Griffin Capital Essential Asset REIT announced that it would reduce its distributions to an annualized rate of $0.35 per share, all cash, subject to adjustments for…
Benefit Street Partners Realty Trust Enters into $100 Million Credit Facility
On March 26, 2020, Benefit Street Partners Realty Trust, Inc. (the “Company”), through its indirect wholly-owned subsidiaries, entered into a credit facility (the “Credit Facility”) with…
Blackstone REIT Cancels Plans to Acquire Uptown Station in Oakland
The Blackstone Group Inc. is canceling its plans to acquire Uptown Station building in Oakland, Calif., and will forgo the $20 million deposit it made for the asset…
Carey Watermark Investors, Carey Watermark Investors 2 Move Merger Outside Date
Carey Watermark Investors Inc. and Carey Watermark Investors 2 Inc. agreed to push back the outside date of their pending merger to May 31 from…
Strategic Wireless Acquires Oregon Cell Tower
COSTA MESA, Calif.–(BUSINESS WIRE)–Strategic Wireless Infrastructure Funds Management, LLC. (“Strategic Wireless”) announced the acquisition of a cell tower located in…
CIM Income NAV Converts to Monthly NAVs, Pricing and SRP Policies
Based on, among other things, the current competitive landscape, the management and board of directors (the “Board”) of CIM Income NAV, Inc. (the “Company”) have concluded that it is…
Hartman Short Term Income Properties XX Delays 10-K Filing
Hartman Short Term Income Properties XX, Inc. (the “Company”) has determined to rely upon Release No. 34-88465 / March 25, 2020, Order Under Section 36 of the Securities and Exchange Act of…
Rent strike idea gaining steam during coronavirus crisis
ST. LOUIS (AP) — With millions of people suddenly out of work and rent due at the first of the month, some tenants are vowing to go on a rent strike until the coronavirus pandemic…
Carter Multifamily and ExchangeRight Chime in on COVID-19 Effects on Alternatives Industry
We recently spoke with Lisa Robinson and Ray Hutchinson at Carter Multifamily and Warren Thomas and Joshua Ungerecht at ExchangeRight about the impact…
Blackstone REIT Declares Distributions to be Paid in April
Blackstone Real Estate Income Trust Inc. declared distributions for each class of its common shares, to be paid on or about April 20 to shareholders of record immediately following the close of…
Will coronavirus permanently change CRE lending?
The economic paralysis from the coronavirus outbreak could upend commercial real estate and accelerate loan losses for banks…
Strategic Storage Trust IV Suspending SRP and Changing to Monthly Distribution Authorizations
Strategic Storage Trust IV Inc. is suspending its share redemption program, effective April 29, because of the uncertainty related to the COVID-19 pandemic and its possible impact on the company’s…
As offices empty out, CRE picture looks bleak
Similar to the 2008 financial crisis, commercial real estate values could take a hit, fueling the current crisis but for a new reason: working from home…
