Jefferies Trading Surge Bodes Well for Wall Street Heavy-Hitters
Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
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Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
Plunging demand for commodity offices in the US is driving growth for the highest-quality properties, a Morgan Stanley executive said.
Nuveen is shifting management of about 3,000 rental houses to Invitation Homes Inc., marking the end of its attempt to launch a new single-family landlord.
Canada’s real estate market is seeing some signs of increased activity, but one economist says a recovery will be gradual until interest rates are firmly moving down.
Apr 8, 2020
Bloomberg News
,(Bloomberg) -- The economic pain caused by the coronavirus is translating to lower rent collections this month.
Just 69% of U.S. apartment renters made payments through April 5. That compares with 81% who paid their rent by March 5, a new tracking tool published by the National Multifamily Housing Council shows.
Leasing offices have closed amid social-distancing efforts, making it harder for some residents to make payments. Still, the trade group’s data, based on 13.4 million apartment units, show how quickly pandemic-related layoffs are rippling through the real estate sector.
Last year, 82% of apartment-dwellers paid their rent by April 5.
“The Covid-19 outbreak has resulted in significant health and financial challenges,” Doug Bibby, the group’s president, said in a statement. “However, it is important to note that a large number of residents met their obligations despite unparalleled circumstances.”
Real estate investment trusts that own apartments have collected 85% to 95% of their expected rental income for April, JMP Securities analyst Aaron Hecht wrote in a note.
©2020 Bloomberg L.P.