Beneath the Obvious

• 2020 global deal volume decreased 26%.

• Nationally, rent collections for REITs dropped to 50% in April, climbed to 80% by August, and settled north of 90%. 

• NW collections outperformed other regions by 5-15% in spite of greater lockdowns/restrictions.

• Retail bankruptcies take significant time - workouts, buyouts and lender flexibility.

• Investors eyeing more redevelopment vs ground up.

• Lender flexibility starting to wane and expecting to tighten belts in light of strong bounce back.

• Construction costs in NW largest impediment to new deals.  Affordability component hurting.  

• Ground lease tenants dwindling due to costs and timelines.

• Drive thru rent premium is 50%+.

• Retail spending increased overall with ecommerce - nationals benefited.

• Tenants are doing deals now for ‘22-’23 openings.

• Multi-Family Trends:   View Here