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April 16, 2020

Boston Landlords Leery Of State Coronavirus Eviction, Mortgage Moratorium

To protect individuals and small businesses affected by the coronavirus pandemic, Massachusetts is poised to enact a moratorium on most eviction and foreclosure proceedings, which property owners say will give tenants a free ride at their expense.

Boston Landlords Leery Of State Coronavirus Eviction, Mortgage Moratorium

The bill, H.4647, was passed by the Massachusetts House of Representatives and state Senate in the last two days and now sits on Gov. Charlie Baker's desk. The Republican has indicated that he supports a halt to evictions and foreclosures, although he hasn't commented on this specific proposal. A spokesperson for Baker…

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Patriarch Of Callahan Construction Companies Dies At 90

Patriarch Of Callahan Construction Companies Dies At 90

John Callahan Jr., the founder and patriarch of construction firm John T. Callahan & Sons, died March 29 from complications of Alzheimer’s disease, his family announced this week. He was 90.Callahan, who was better known as Jack, was born and raised in Randolph, Massachusetts. He and his wife, Marie, founded…

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Novaya Sells Concord Office Building For $75M

Novaya Sells Concord Office Building For $75M  

Taurus Investment Holdings paid $74.5M for a 410K SF office building in Concord. Boston-based Taurus bought the property at 300 Baker Ave. from Novaya Real Estate Ventures. The property is 92.3% occupied by 13 tenants, including Emerson Hospital, Welch’s Foods Inc. and Lexia Learning. Novaya…

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How Property Managers Are Dealing With Tenants Forced To Stay At Home

In six weeks, multifamily property managers have had to completely reinvent their profession in the face of an uncertain future.

That has created anxiety for managers and tenants alike. It has also forged a determination to see the crisis through, property managers say, knowing they must devise ways to work around pandemic-imposed barriers to ensure they can take care of residents who are stuck in their apartments.

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'Everyone Is Tense': Office Owners Demand Proof Of Hardship As Tenants Seek Relief

 

Across the country, businesses are coming to grips with economic pain on par with the Great Depression and social distancing requirements stretching for months, if not years.

For office landlords and their tenants, this new world order is particularly uncertain as extreme lockdowns roll into a second month in major markets like New York. Both sides are keen to protect their financial interests, and delicate, tense conversations about rent payments are taking place.

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In The Coronavirus Crisis, Some Retailers In Chapter 11 Are Too Stuck To Reorganize

Struggling retailers and secured lenders usually push for Chapter 11 bankruptcy proceedings in the hopes of escaping debt and reorganizing under the court's authority, but the national coronavirus pandemic has made some of these proceedings much more complicated.

The process took an unprecedented turn when Modell's Sporting Goods and Pier 1 Imports obtained court rulings that deployed rarely used bankruptcy code rules to raise the possibility of giving retailers an extended break from paying rent even after the standard, 60-day reprieve allotted in Chapter 11 bankruptcy.

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