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CMBS lenders are starting to quote deals once again.  Larger CMBS lenders that have their own balance sheets and major financial institutions that are not reliant on other capital providers will initially lead the pack.  Expect Wells Fargo, BofA, Morgan Stanley, Citi, JP Morgan Chase, Goldman Sachs, Deutsche Bank, Barclays, Starwood Mortgage Capital, Natixis Real More

Watch for regional and local banks to be active lenders, while the major money-center banks remain in the dugout.  Bank lending will be slow and gradually increase through Q3 and Q4 as the economy revives.  Count on banks to be more selective with property type, location and borrowers.  Underwriting will change drastically with less aggressive More

Growth for oil change chains will be especially healthy as the younger generation of drivers show less interest in changing their own oil than previous generations and are more than happy to pay for this service as long as it is convenient and speedy. As an essential service during COVID-19 closures, oil change shops were More

High-value fitness chains may be one of the more healthy segments to eventually emerge from the COVID-19 pandemic. The future of fitness centers was uncertain during closures but signs of life are resurfacing as states re-open, especially those less impacted by the SARS-CoV-2. Generally, gyms are re-opening with limited a number of clients and pre-scheduled More

Multifamily continues to be the top choice for lenders as property performance has been stronger than expected.  There has also not been much turnover since residents are staying put and many are working from home.  So far April, May and June collections seem promising.  All eyes will be on August, September and October rents, as More

The multifamily lending market will be strong going forward and lenders that stepped out when the pandemic hit are now back in the game.  Multifamily is one of the few asset types that will have available capital for the foreseeable future.  Lenders will be drawn to the solid rent collections seen in the past two More

Hotel lending has been put on pause as lenders wait for more visibility regarding future hotel net operating income performance.  Many hotel lenders have pulled back from the market for new originations and are currently focused on asset management for their existing portfolios.  Once traveler confidence returns, lenders will look for new originations, most likely More

The growth of convenience stores shows no sign of slowing as chains improve food offerings, add sit-down dining and turn to smaller designs that feature separate window pick-up for online/app orders, with 7-Eleven leading the way as it adopts cashless shopping, mimicking the Amazon Go model. Smaller c-stores are showing up in urban city centers More

Most candy/chocolatier chains remain hopeful that they will continue to expand, even if delayed until late 2020 or even into 2021. Most of these retailers have been deeply affected by the COVID-19 pandemic, as their preferred locations tend to be in tourist-friendly and high-foot traffic spots that are currently impacted by social distancing, as well More

Due to COVID-19, many retailers have had to develop creative ideas to sell their excess merchandise while anticipating new customer spending preferences. A new retail brand, Shield Pals, sprung up solely because of the need for face shields, masks and hand sanitizer, and the store is successfully taking up vacant mall space. American Eagle Outfitters More

In the short term, lenders are going to be a lot more cautious on new construction deals as they try to figure out the underlying impacts of COVID-19.  Many lenders are not entertaining new loans for the time being and the ones that are looking at construction loans are being much more conservative.  Some institutions More

Capital will be available for office as this property type is more stable than hotels or retail.  Manylenders are confident with the fact that most office tenants are expected to pay rent in the coming months.  However, there are fewer active lenders, therefore borrowers will see lower leverage and stricter underwriting.  Banks, life companies, private More