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December 14, 2020

Apartment Rent Collections 'Came Crashing' In November For Some Landlords

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With government support for embattled workers evaporating, apartment rent collections are worsening as the year comes to a close. 

Apartment Rent Collections 'Came Crashing' In November For Some Landlords

“In November, it came crashing. We saw the entire momentum shift,” The RADCO Cos. CEO Norman Radow said during Bisnow's multifamily digital summit last week. “I think we're starting to see parts of the economy shut down, and we're starting to feel the brunt of that.”Apartment landlords like RADCO, which owns nearly…

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‘This Too Shall Pass’: 43 Real Estate Execs On The Biggest Lessons Of 2020

The last 280 days of the coronavirus pandemic have been unprecedented, unimaginable and tragic in countless ways. From an economic perspective, where we work, where we eat, where we shop — where we do anything — is still mostly in flux. It’s anyone’s guess what will come back stronger, or perhaps not at all. At every level of real estate and the global economy, people and companies are suffering.

‘This Too Shall Pass’: 43 Real Estate Execs On The Biggest Lessons Of 2020

But as a vaccine starts to be distributed, things could start to turn around, and businesses are looking at how their strategy should be different in the new year.Bisnow reached out to commercial real estate executives across the world — from Calabasas, California, to Birmingham, England, and wherever else the business class…

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Microsoft Acquires $28M Site Near Atlanta For Azure Data Center

Microsoft Acquires $28M Site Near Atlanta For Azure Data Center  

Microsoft has paid $28.8M for a chunk of land in south Fulton County, Georgia, to house a new 250K SF data center. The site is part of Shugart Farms, a multiphase industrial…

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CRE's Next Generation: How Developer Abiud Zerubabel Is Filling His Downtown Apartments And Looking To Buy More

 

This series asks rising stars in commercial real estate about their thoughts on some of the biggest issues facing the industry, such as inequality, climate change and technology.

The pandemic has put a strain on midsized real estate companies like Acumen Cos. that own urban apartments, as they have seen vacancy rise with young professional tenants moving home or fleeing to the suburbs. 

Acumen Cos. Chairman Abiud Zerubabel, whose firm owns about 1,000 apartments in D.C., Maryland, Virginia and Los Angeles, said his portfolio experienced a sharp increase in vacancy in May, June and July as its predominantly millennial tenant base moved out. 

He decided to use this difficult situation as an opportunity to pivot his business model. 

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