Thursday, March 26th, 2020
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Signs of the coronavirus’ impact on the CRE capital markets are mounting. Yesterday, the Wall Street Journal reported that SL Green’s deal to sell the former New York Daily News headquarters for $815 million has reportedly fallen through after Deutsche Bank backed out of the financing, which would have been packaged in a CMBS. The WSJ also reports that Citigroup may find itself stuck with a $2 billion loan it made to Blackstone and a MGM spinoff for their billion-dollar casino property transactions earlier this year that was intended for the CMSM market.
For these and other examples, the CRE market can expect lenders that rely on the CMBS market to step back. “There are few bids in the CMBS market today,” Walker & Dunlop CEO Willy Walker said in a webinar yesterday. “CMBS is predicated on calm interest rates and a lack of volatility There is
Photo: Kristen Prahl/Getty Images
Restaurants are shuttered, schools are closed—and after a long and grueling trip to the supermarket, where you had to wait in line just to get in and where the toilet paper was being guarded like bars of gold, you realize you forgot something at the store.
The truth is, most of us will forget to buy something (or multiple things) over the next few weeks. Or in many cases, stores will be out of the very thing we went there to buy. And right now, cleanliness is top of mind.
Which is why we teamed up with cleaning experts from across the country to bring you a few helpful hacks. Fortunately, a lot of basic household items can come in handy in a pinch. So whether you forgot