COVID-19 has inflicted a three-pronged assault on a commercial property’s value: widespread losses from an overall decline in the market; reduced functionality as a result of social distancing, shutdowns, quarantines, layoffs and remote work; and adverse economic trends impacting property value.
As forbearance periods are set to expire, many property owners who’ve fallen behind on debt are going to be making significant decisions which will ultimately reshape the commercial real estate industry: invest, sell at distressed prices or foreclose.
These materials cover the current landscape of commercial foreclosures in the wake of the COVID pandemic, offering a a quick study on developing trends and what the future may hold for commercial real estate.
Summary of Contents
- Commercial Foreclosure Process & Timeline
- Workouts & Loss Mitigation
- Commercial Evictions
- Commercial Bankruptcy
- Effect of Foreclosure & Eviction Moratoria