Real estate stocks had a big week. But are they still undervalued?

Real estate stocks ended the week on a positive note, with companies sustaining gains made earlier this week after Pfizer announced successful trials for its Covid-19 vaccine. Some of the country’s largest property owners had their best week of trading since June, with share prices rising more than 20 percent, substantially outperforming major indexes. The share price of SL Green Realty, New York City’s largest office owner, grew 23 percent. Shares of Hilton Worldwide and

source https://therealdeal.com/2020/11/13/real-estate-stocks-had-a-big-week-but-are-they-still-undervalued/

NAR amends code of ethics to ban public hate speech

Realtors can no longer publicly use discriminatory language without consequence. The National Association of Realtors’s board of directors voted Friday to officially expand its Code of Ethics to cover realtors’ conduct outside of their real estate duties. Previously, the code of ethics only applied to a realtors’ conduct in the course of a real estate transaction. That means any NAR member who uses hate speech or harassing language in public, whether as a part of

source https://therealdeal.com/2020/11/13/nar-amends-code-of-ethics-to-ban-public-hate-speech/

Brookfield delinquent on $190M loan tied to Baltimore mall

Troubles mount for mall owners around the country as an increasing number are skipping loan payments, with the threat of another wave of coronavirus cases potentially leading to new restrictions. Brookfield Property Partners is over 60 days delinquent on a $190 million CMBS loan secured by White Marsh Mall in Baltimore, according to Trepp. The mall is among the largest in the Baltimore area, spanning over 1 million square feet. Wells Fargo originated the loan

source https://therealdeal.com/2020/11/13/brookfield-delinquent-on-190m-loan-tied-to-baltimore-mall/

Outer-borough loan activity fired up in October

October’s top 10 outer-borough loans were led by two deals at or above $300 million, showing a strong recovery from the previous month, when the ranking was topped by a $65 million loan. The total amount of October’s top 10 loans was $1.99 billion — that’s four times more than September’s total of $494 million. The top loan, for $323 million, was issued in relation to the recent sale of Silvercup Studios, the legendary film

source https://therealdeal.com/2020/11/13/outer-borough-loan-activity-fired-up-in-october/

Outer-borough loan activity fired up in October

October’s top 10 outer-borough loans were led by two deals at or above $300 million, showing a strong recovery from the previous month, when the ranking was topped by a $65 million loan. The total amount of October’s top 10 loans was $1.99 billion — that’s four times more than September’s total of $494 million. The top loan, for $323 million, was issued in relation to the recent sale of Silvercup Studios, the legendary film

source https://therealdeal.com/2020/11/13/outer-borough-loan-activity-fired-up-in-october/

“Nobody wants to follow the rules”: Covid spike triggers Newark crackdown

Covid-19 is on the rise throughout New Jersey, with 12 percent of tests now coming back positive. Newark is even worse at 19 percent, and Mayor Ras Baraka has seen enough. “Everybody is going to have to sacrifice,” Baraka said Thursday, as reported by the Wall Street Journal. The mayor imposed restrictions that go beyond those announced by Gov. Phil Murphy. They include no school sports, large private gatherings or nights out on the town.

source https://therealdeal.com/2020/11/13/nobody-wants-to-follow-the-rules-covid-spike-triggers-newark-crackdown/

Michael Gianaris to President-elect Biden: Cancel rent

State Sen. Michael Gianaris has called on President-elect Joe Biden to provide relief for New Yorkers — in the form of canceling rent. The Democratic politician, who represents Astoria, Queens, and, as the Deputy Majority Leader, is the highest-ranking member of the state legislature in New York City, wrote that New Yorkers, in particular, have “suffered immeasurable losses of lives and livelihoods, incurring utter devastation to themselves, their families and their businesses.” “As we face

source https://therealdeal.com/2020/11/13/michael-gianaris-to-president-elect-biden-cancel-rent/