The Mid-Year 2020: COVID-19 Closures; Fleeting Eclipse or A New Dark Age?

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Trepp, a leading provider of information, analytics, and technology to the structured finance, commercial real estate (CRE), and banking markets in collaboration with Commercial Real Estate Direct released their 2020 Mid-Year Magazine: "COVID-19 Closures: Fleeting Eclipse or A New Dark Age?"

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Trepp, a leading provider of information, analytics, and technology to the structured finance, commercial real estate (CRE), and banking markets in collaboration with Commercial Real Estate Direct released their 2020 Mid-Year Magazine: "COVID-19 Closures: Fleeting Eclipse or A New Dark Age?" Access the full magazine here: https://info.trepp.com/mid-year-2020-commercial-real-estate-direct-pr

In the Mid-Year 2020 Magazine, analysts give a first-half of the year recap of the commercial real estate finance and CMBS markets amid the coronavirus pandemic.

"In our Year-End 2019 magazine, we explored what might disrupt the various sectors of commercial real estate. Boy, did we blow it," said Orest Mandzy Managing Editor of CRE Direct. "Who could ever have imagined that a virus from the other side of the planet could cause one of the greatest economic calamities in our history?"

The shutdowns have resulted in an absolute closure of the hotel sector, which saw occupancy rates plunge to levels not seen in decades, if not longer. The retail property sector, which in many areas was forced to remain closed, is also in a world of hurt. The exception: stores that sell essential goods, like grocers, pharmacies, and hardware stores.

If hotels and retail properties aren't generating revenue, they can't pay their mortgages. If that continues, they will default. Last month, $54.29 billion of CMBS loans were more than 30 days late with their payments. A total of $23.85 billion of that was backed by retail properties. That's 18.6 percent of all CMBS retail loans. And $20.59 billion was backed by hotels. That represented nearly 25 percent of all CMBS hotel loans.

The magazine provides a summary of the major commercial real estate property sectors: lodging, retail, multifamily, and industrial. You’ll also find our half-year CMBS rankings, a look at CMBS loan defaults, and more.

Download CRE Direct and Trepp’s full magazine here: https://info.trepp.com/mid-year-2020-commercial-real-estate-direct-pr.

For more information on the Year-End Magazine, email press@trepp.com or visit http://www.Trepp.com.

Follow @TreppWire and @crenewstweets on Twitter for daily CRE and CMBS market updates.

About Trepp    
Trepp, founded in 1979, is the leading provider of information, analytics, and technology to the structured finance, commercial real estate, and banking markets. Trepp provides primary and secondary market participants with the web-based tools and insight they need to increase their operational efficiencies, information transparency, and investment performance. From its offices in New York, San Francisco, and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance, and portfolio management. Trepp is wholly-owned by Daily Mail and General Trust (DMGT). For more information, visit http://www.Trepp.com.

About CRE Direct
Founded in 1999, CRE Direct currently delivers news to more than 10,000 individuals throughout every business day via its CREnews.com site and weekly through its emailed newsletter publication. CRE Direct provides the most up-to-date market intelligence on the mortgage business, equity raising, investment sales, and CMBS sectors. Subscribers, which include investors, lenders, brokers, investment banks and others, gain access to daily in-depth news and information through the Property Sales Database, CMBS Pricing Matrix, and CMBS Pipeline.

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Hayley Keen
Trepp
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