Daily

Dangerous Delta, eviction worries mount, NYC and the NYT, haunted house opportunities, and some civic duty.

In Today’s News

Hurricane Delta Beating Down the Hatches in Storm-Weary Louisiana

According to CoreLogic (NYSE: CLGX), some 293,685 single- and multifamily homes on the Gulf Coast — homes that would cost nearly $63 billion to replace — are at risk as Hurricane Delta makes landfall today on a track that takes it over areas already storm-lashed in recent weeks.

Why it matters: Besides lives and properties once again threatened, it really does make one wonder how long hurricane-prone coasts, especially the Gulf Coast, will hold allure for investors and, at the risk of sounding hyperbolic, even be insurable.

Survey: 3.7 Million Renters Face Possible Eviction

Millions of renters believe they will be evicted from their homes in the next two months due to eviction, according to a new survey by the U.S. Census

Multifamily market signals, survey shows improvement in small biz gloom, Colony Capital bails out on hotels, how to handle pesky tenants, and the return of the cubicle.

In Today’s News

Berkadia: 3 Numbers Signal the Future of Multifamily Real Estate

This blog post by the Berkshire Hathaway (NYSE: BRK-B) brokerage and services outfit says to watch multifamily sales volume, rent payments made, and consumer confidence scores. They paint a somewhat promising picture.

Why it matters: The Berkadia research shows that multifamily deals comprised the largest share (40%) of CRE deals in August, reflecting that segment’s resilience, and that while investment sales activity has declined during the pandemic, “there is little data to support the narrative that we will see a trend of investors fleeing primary and coastal markets.”

Small Firms Now Somewhat Less Apocalyptic About the Pandemic

Sixty percent of business owners said they will be able to remain

Preferred punches out on student housing, apartment communities adapt amenities, open-air centers see clearer skies, what IKEA buying malls means, and some realities around reshoring.

In Today’s News

Preferred Sells Its Student Housing to TPG Real Estate

Preferred Apartment Communities (NYSE: APTS) is selling its 6,000-bed student housing portfolio to TPG Real Estate Partners for $478.7 million and exiting that segment.

Why it matters: As GlobeSt.com reports here, student housing is in a rough state right now, for obvious reasons. Investors who closely track their real estate investment trusts’ (REITs’) holdings may find this good news if this is one of them.

Apartment Communities Optimize Services, Amenities for Life Under a Pandemic

National Real Estate Investor says multifamily owners and managers have adjusted to long-term life under COVID-19 by adapting how they offer amenities to residents.

Why it matters: Read on for multiple perspectives on the challenges and opportunities that

Shrinking office space, converting factory space, mortgage forbearance updates, who’s on third place, and a big huzzah for the Big Apple.

In Today’s News

Office Market Could Shed 145 Million Square Feet in Two Years

A new Cushman & Wakefield (NYSE: CWK) report says the U.S. office market could shrink by 145 million square feet in the next two years and that vacancy rates won’t return to pre-pandemic levels until at least 2025.

Why it matters: Cushman & Wakefield is a global leader in property management and puts considerable resources toward trying to understand what’s happening now and what comes next. The scenarios reported here by GlobeSt.com are just a couple of possibilities. You can download the whole report off this page.

Yesterday‘s Factories, Today‘s Apartments: Conversions at All-Time High

About 800 old buildings around the country have been converted into apartments in the past decade,