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Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

Marvin Gaye probably wasn’t thinking about 2020 on any of the songs from his 1971 hit album “What’s Going On,” but this year’s events sure would be fertile ground for inspiration.

The past month has provided enough angst for most everyone, including commercial real estate lenders and investors.

One of the biggest discussion points revolves around extending forbearance periods for borrowers who have experienced income loss during the pandemic.


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

Musicians Macklemore and Ryan Lewis probably weren’t referring to distressed buyers of commercial real estate in their 2012 hit song “Thrift Shop,” but the pandemic-stressed real estate market has multiple players lining up trying to find bargain basement acquisition and loan opportunities.

So far, thrifty buyers are somewhat frustrated because the U.S. government propped up both business and residential tenants alike during the first four to five months of the pandemic.


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

Bob Dylan probably wasn’t referring to the government as a savior in his 1975 classic “Shelter from the Storm,” but many commercial real estate owners should be thankful for protection the federal government programs have offered them from the impact of COVID-19.

According to data from the National Multifamily Housing Council, 91.3% of renters were current with their apartment rent payments through July 22.


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

British rock band Queen and singer David Bowie probably were not thinking about commercial real estate when then wrote and released the chart-topping “Under Pressure” hit from 1981.

This year has proven to be very stressful for almost everyone, and commercial real estate players are not immune.

Three months into the crisis, temporary relief measures are reaching a point that will put commercial real estate owners under increasing pressure.


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

The Rolling Stones recently released “Living in a Ghost Town,” a chart-topping single that expresses what many have been going through the past two months, but the rock band’s 1981 hit “Start Me Up” speaks to what most commercial real estate participants are thinking.

Regardless of property type or political persuasion, investors are of one mind when it comes to getting the economy revved up again — and for some it is a matter of survival.