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June 17, 2020

Battered In May, CMBS Market Limps Into June, As 'Calm Before The Storm' Continues

After delinquencies more than tripled last month, the commercial mortgage-backed securities market will experience continued distress through the summer, experts and preliminary June data say.

Battered In May, CMBS Market Limps Into June, As 'Calm Before The Storm' Continues

Following a May in which Fitch Ratings recorded about $4B in CMBS loans transferred into special servicing, early signs for June and beyond point to more of the same, Fitch Ratings Senior Director Melissa Che said."In line with delinquencies, we…

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A Farewell To Gyms, A Once-Favored Experiential Retail Tenant

Before the coronavirus pandemic hit in March, fitness gyms across the U.S. served as consistent traffic drivers for shopping centers that could no longer rely solely on traditional retailers to attract patrons.

A Farewell To Gyms, A Once-Favored Experiential Retail Tenant

The health and fitness industry has been growing 3% to 4% annually in the U.S. for the last 10 years, according to the International Health, Racquet & Sportsclub Association, or IHRSA. The group tracked 39,570 gyms in the U.S. in 2018, up 2.8% from the year prior.But the gym world is…

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Flood Analytics Are Proliferating Among Service Firms, But CRE Is Slow To Invest

The commercialization of flood risk analysis has grown in recent years, reflecting improvements in computing power, richer data sources, increased general awareness of flooding risk in the wake of events like Hurricane Harvey, and growing interest from individuals and businesses to purchase flood insurance.

Property owners and developers typically gain insight into their flood risk from external engineering or insurance firms, which are hired to perform those analyses. But flood risk can be assessed in a myriad of ways, and not all tools are the same.

Walter P Moore Senior Principal Charlie Penland said the usefulness of flooding analytics products comes down to the ability of the engineers to interpret and use those tools.

"It's sort of like, does a hammer make you a good carpenter?" Penland said.

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My New Normal: The NRP Group Executive Vice President Of Property Management Phillip Boatwright

 

This series aims to capture a moment in time, talking to men and women in commercial real estate about how their lives and businesses are being transformed by the coronavirus pandemic.

In late 2019, after six years at The NRP Group, Phillip Boatwright was named executive vice president for property management of the multifamily development and management firm.

Boatwright oversees a property management staff of more than 400 people and a $1.5B portfolio that includes 140 properties and a pipeline of 11,000 apartment units. Prior to his 2019 promotion, Boatwright managed the firm's market-rate multifamily properties and third-party management services.

Described by his firm as having an "energetic leadership style," Boatwright is a frequent speaker at multifamily industry conferences.

While the coronavirus pandemic forced Boatwright to manage his team from home, he has found ways to ensure everyone remains connected and in sync. 

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