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Wednesday, August 5th, 2020

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Posted by: | Posted on: August 5, 2020

Mixed-Use Could Pose Trouble for Apartments

So far, the apartment market has held up relatively well after COVID-19 hit. But Jake Reiter, president of Verde Capital, does see some issues on the horizon. 

In higher-end, mixed-use apartments, the retail and hospitality portions could “pull-down” building performance, according to Reiter. “The hotel piece, the WeWork piece or the retail piece could be distressed.” 

With some smaller apartments, the retail owner could also be the building owner. “It could be a travel agency [on the first floor],” Reiter says. “The owner of the building may also own the business. If that business is closed and there is not a huge amount of multifamily upstairs, the closing of the retail is not immaterial to the overall economics of the building,” Reiter says.

These are opportunities that Verde is monitoring. In this scenario, Verde is looking for ways to recapitalize the debt or leave the debt with the lender, according

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Posted by: | Posted on: August 5, 2020

Aqua Star! Portland’s Iconic Floating Home Makes a Splash

On the market for $850,000, this futuristic-looking home on the water is described as “Portland’s most iconic and famous floating home.”

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This isn’t the only floating home in the Pacific Northwest—but it is the only one with outer-space vibes.

On the market for $850,000, this futuristic-looking home on the water is described in the listing details as “Portland’s most iconic and famous floating home.”

This 3,000-square-foot, three-bedroom home floats off the shores of southeast Portland, OR, with its own boat slip, as part of the Oregon Yacht Club marina within the Willamette River. The purchase also includes yacht-club shares valued at $550,000.


If this one-of-a-kind home looks familiar, you may have spotted it on an episode of HGTV’s “Extreme Homes” or on “Portlandia.” Locals know the river residence as

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Posted by: | Posted on: August 5, 2020

BH Properties: Wave of Bankruptcies Is Coming

While we are still early in the pandemic-triggered recession, some investors are already seeing the distressed asset investment opportunities.

       

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Posted by: | Posted on: August 5, 2020

Trump suggests freezing evictions and payroll-tax collection through orders

President Donald Trump on Monday raised the possibility of using executive orders to suspend evictions and freeze the collection of payroll taxes, as Democrats and Republicans reported slow progress in their negotiations over another big coronavirus aid package.

“I don’t want people to be evicted,” Trump said, while speaking at a news conference on Monday evening. He said it’s “not their fault” that “they’re thrown out viciously.”

“They oftentimes will go to a shelter with tremendous numbers of other people, and the virus will spread, and we don’t want that.”

He added that he could suspend the collection of payroll taxes through executive order.

“So we’ll be talking about that, but we’re having a very good discussion with Nancy Pelosi and Chuck Schumer,” the president said, referring to the top Democratic lawmakers in the House and Senate.

While March’s $2 trillion CARES Act established a temporary moratorium on evictions for

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