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Thursday, September 3rd, 2020

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Posted by: | Posted on: September 3, 2020

One Lender Sees Opportunity in Hospitality and Retail

Unlike many lenders, ACRES Capital, which does new construction, renovations, adaptive reuse and lease-ups, is looking at about every real estate asset class. 

But ACRES CEO Mark Fogel, who also recently assumed the role of president, CEO and board member at Exantas Capital Corp., a bridge lender, is not necessarily migrating to apartments, which are usually one of the safer bets in a recession.

“We feel like the multifamily side is a little bit overplayed, but we’re lending in that arena,” Fogel says.

That doesn’t mean Fogel is leaving multifamily origination. But it will probably constitute a smaller percentage of his originations.

“We’re looking at all asset classes quite deeply,” Fogel says. “Quite frankly, I think less and less of it will be multifamily focused on the ACRES side as we go forward. On the Exantas side, we’ll continue to be focused on multifamily, but maybe it drops to 60

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Posted by: | Posted on: September 3, 2020

10 Tiny Organization Tasks You Can Finish in 10 Minutes (or Less)

When was the last time you smiled with pride upon opening a cleaned-up junk drawer or closet? If you can’t recall ever having this feeling, it’s time to hit these hot spots.

In fact, it’s smart to tackle organization projects now, since you’re likely to be spending tons of time at home anyway, because COVID-19 is lingering on.

And you don’t need all weekend to make some progress.

“Mini tasks make a big difference—like the ones you can accomplish during a TV commercial break,” points out Jamie Novak, author of “Keep This Toss That.”

You might be surprised by how tackling just one small area—like your overflowing silverware tray or tool chest—can put you in a much better mood. Organizing can also help lower your stress levels over the long term.

“Visual chaos is a constant reminder of things to do,” Novak explains. “This, in turn, is a

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Posted by: | Posted on: September 3, 2020

Renters in U.S. Cannot Be Evicted Through the End of the Year Due to Coronavirus, CDC Order States

The Centers for Disease Control and Prevention implemented a temporary eviction moratorium through the end of the year, protecting U.S. renters from losing their homes during the COVID-19 pandemic, the Trump administration announced Tuesday.

The CDC’s moratorium will apply to all rental units nationwide until Dec. 31 and goes into effect immediately, senior administration officials said of an unpublished CDC agency order. Treasury Secretary Steven Mnuchin told a U.S. House of Representatives panel Tuesday that the moratorium would cover around 40 million renters.

A previous federal eviction moratorium created by the CARES Act ended in late July and only applied to federally-funded housing, including rental units with mortgages backed by Fannie Mae and Freddie Mac. The moratorium will apply to any state in which there is not already a more protective ban in effect, according to the order. Multiple states have eviction moratoriums in place, including California, which

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