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GBREB NEWS

MEMBER RESOURCES

Information is rapidly changing.  GBREB will update this post as new information becomes available. There's a lot of information about government's response to COVID-19, however we have narrowed the focus of this page to issues impacting the real estate industry to serve as a resource for our members. 

Additional information, including legal advisories are available to members here .

MASSACHUSETTS EXECUTIVE ORDERS AND ADVISORIES
Short-term residential rentals, Department of Public Health, 3/31/20
Mortgage Loan Borrowing , Division of Banks, 3/25/20
Constuction Letter With Guidance  3/25/20
COVID-19 ESSENTIAL SERVICES  Order of  the Governor Assuring Continued Operation Of Essential Services  
Essential Services FAQ
SMOKE ORDER Smoke Alarm and Carbon Monoxide Inspections for One and Two-Family Dwellings and Three to Five-family Apartment Buildings
Standing Order Housing Court
DHCD Resources For Renters and Homeowners

BOSTON EXECUTIVE ORDERS AND ADVISORIES
Rental Relief Fund
Guidelines For Open House and Apartment Showing Policy
Construction Notice 3/25/20
Construction Permitting 3/16/20

DIVISION AND AFFILIATE RESOURCE PAGES

Building Owners and Managers, BOMA Boston, BOMA International
Multifamily Apartments, Massachusetts Apartment Association, National Apartment Association   
REALTORS, Greater Boston Association of REALTORS, Massachusetts Association of REALTORS, National Association of REALTORS
Commercial Brokers Association
Real Estate Finance Association






COVID-19
GBREB
 

GBREB News

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GBREB NEWS

MEMBER RESOURCES

Information is rapidly changing.  GBREB will update this post as new information becomes available. There's a lot of information about government's response to COVID-19, however we have narrowed the focus of this page to issues impacting the real estate industry to serve as a resource for our members. 

Additional information, including legal advisories are available to members here .

MASSACHUSETTS EXECUTIVE ORDERS AND ADVISORIES
Short-term residential rentals, Department of Public Health, 3/31/20
Mortgage Loan Borrowing , Division of Banks, 3/25/20
Constuction Letter With Guidance  3/25/20
COVID-19 ESSENTIAL SERVICES  Order of  the Governor Assuring Continued Operation Of Essential Services  
Essential Services FAQ
SMOKE ORDER Smoke Alarm and Carbon Monoxide Inspections for One and Two-Family Dwellings and Three to Five-family Apartment Buildings
Standing Order Housing Court
DHCD Resources For Renters and Homeowners

BOSTON EXECUTIVE ORDERS AND ADVISORIES
Rental Relief Fund
Guidelines For Open House and Apartment Showing Policy
Construction Notice 3/25/20
Construction Permitting 3/16/20

DIVISION AND AFFILIATE RESOURCE PAGES

Building Owners and Managers, BOMA Boston, BOMA International
Multifamily Apartments, Massachusetts Apartment Association, National Apartment Association   
REALTORS, Greater Boston Association of REALTORS, Massachusetts Association of REALTORS, National Association of REALTORS
Commercial Brokers Association
Real Estate Finance Association






COVID-19
GBREB

 
 
 
 
 
 
 
 

 

Check out the April edition of the MAA Insider- featuring highlights from past events, information on upcoming events plus local and national multifamily news.

Read the April MAA Insider.
MAA Insider - April 2020
MAA

Did you miss our April Newsletter? Read about upcoming BOMA Boston events, news, and educational opportunities!

Read the April BOMA Enews.

April 2020 E-News
GBREB

 
COVID-19 Resources for the Apartment Community

MAA regularly updates this page with local, national, and apartment industry news, notices, and resources. 

News:
*NAA - Rental Housing Industry analysis of CARES Act - 4/1. Read now
Local legal analysis of rent collection issues during COVID-19. Read now
Guidance on Essential Critical Infrastructure Workers - 3/28. Read now 
Local legal analysis of Massachusetts "essential services" for Commercial Real Estate. Read now
NAA new COVID-19 federal laws. Watch now
Massachusetts construction and worksite guidelines. Read now
Housing Court standing order - 3/13. Read now 
Guidelines for open house and apartment showings in Boston. Read now 


Resources:
National Apartment Association resources, including relevant government and legal news, daily micro-webinars, best practices, tips for working from home, HUD communications, cleaning advice, and more
NAA webinars and videos including daily micro-webinars 
National Apartment Association Twitter - many helpful news stories and updates from around the web
Home readiness checklist by CDC 
Legal advisories from Boston law firm, Nutter 
Grace Hill resources  - COVID 19 Team training manuals available for download 
Mass.gov DPH Corona virus news and updates
MA Department of Housing and Community Development (DHCD) Resources 
Boston Public Health Commission - New Guidance on Face Coverings - Read Now 


Something fun
10 Ways to Keep Your Residents Engaged 
Free online fitness classes - great to share with residents 
Free online education sites 


What you can do:
*Help your residents or others find what they need: Winn Companies CONNECT: Use CONNECT to search for free and reduced cost services like food, healthcare, job opportunities, benefits enrollment, rent assistance and more. 

Give to MAA's Charitable Partner, Rosie's Place, a shelter and support system for homeless women in Boston. Donate now

Give to a food bank in your community or the Greater Boston Food Bank. Donate now


COVID-19 Resources for MAA
MAA

COVID-19 Resources for the BOMA CRE Community

BOMA Boston updates this page regularly with local, national, and real estate news, notices, and resources. 

News:
Boston COVID-19 Advisories and News from Mayor Walsh. Read now
BOMA International Analysis of Federal government's CARES Act for Commercial Real Estate. Read now
Local legal analysis of rent collection issues during COVID-19. Read now
Guidance on Essential Critical Infrastructure Workers - 3/28. Read now
Local legal analysis of Massachusetts "essential services" for Commercial Real Estate. Read now
NAA new COVID-19 federal laws. Watch now
BOMA International tenant FAQ. Read now 
Massachusetts construction and worksite guidelines. Read now

Resources:

BOMA International Resources center
BOMA International Building checklist 
CDC guidance for businesses
BOMA Canada Pandemic Guide
BOMA International Twitter - many helpful news stories and updates from around the web
Maa.gov Resources and news 
*Highly recommended - InspiRE Thought Leadership Series: COVID-19 
CCIM Guidance for Landlords - Read now 
Boston Public Health Commission - New Guidance on Face Coverings - Read Now

Webinars
BOMA International Webinar - Maintaining Building Operations and Preparing for Re-Occupancy - 3/26 - Watch now and re-hosted 4/8 Register Now
BOMA Georgia Webinar  - Improving your Effectiveness as a Remote Employee - 3/25
BOMA Georgia Webinar - Effectively Managing and Leading Remote Employees - 3/26
BOMA/Georgia Coronavirus Webinar in Partnership with APIC - 3/12
BOMA/Seattle-King County Coronavirus Webinar with Building Operations Focus - 3/17
BOMA Canada's Lessons from the Frontlines: Responses to Recent Coronavirus Cases in Commercial Office Buildings Webinar - 3/16
Bisnow Webinar Managing Properties in the Age of Coronavirus - 3/19
CBRE Podcast on the economy and CRE- The Weekly Take - Listen Now


What you can do:
Support our neighbors in need:
Give to BOMA's Charitable Partner, Bridge Over Troubled Waters, a shelter and support system for homeless youth in Boston. Donate now
Give to a food bank in your community or the Greater Boston Food Bank. Donate now
Give blood at your local blood bank. Find a location 
Donate PPE supplies to local hospitals. Find a location

COVID-19 Resources for BOMA
GBREB

  Caritas Communities  


As we all navigate through these COVID-19 times, it is important that we keep in mind those who are being hit the hardest. CBA's charitable partners is Caritas Communities , an organization that provides housing and support to extremely low-income individuals in Greater Boston. In these new trying times, their residents are in need of help. We ask that you consider helping out in any way you can by making a donation here.

A message from Caritas Communities:
Our residents are among those being hit the hardest by the COVID-19 pandemic. They often work in hourly, low-wage jobs without benefits, and have no savings to cushion the hard times. Your help is needed for two programs that are helping our residents right now: 

Homelessness Prevention Program: Emergency rental assistance grants will provide residents who have lost income due to COVID-19 the financial relief and peace of mind they are desperate for right now.

Healthy Resident Program: Emergency meals, food panties in our properties, enhanced cleaning protocols, commercial hand washing stations in shared kitchens and baths, hand sanitizer, and more, are helping to keep our residents safe and healthy.

You can make a difference! Gifts in any amount will make a big impact on our struggling residents. Thank you. 

COVID-19: How You Can Help
GBREB

REFA Webinar Recap

COVID-19: How it’s Impacting the CRE Industry
Challenges – Implications – Best Practices

 

Presented by: Robert Allaire, CFO/Principal, Allaire Risk, LLC;

Paul AyoubPartner, Nutter; Jon DavisCEO & Founder, The Davis Companies;

Wendy FiscusPartner, Nutter; Robert Palter, Senior Partner, McKinsey & Company,

Claudia Piper, Webster Bank, 2020 REFA President, Navjot SinghSenior Partner, McKinsey & Company, 
John WolffSVP/Real Estate Market Executive, Commercial Real Estate Banking, Bank of America

 

Top Takeaways from our Speakers:

 

Confusion about construction projects with City and State Regulations in conflict. 130 City of Boston construction projects stopped with $7 billion in value. 

 

Construction is struggling with supply chain issues. Chinese factories have largely been open for the last week or two. Some Canadian factories are now getting back up and running if they have contractual obligations that pre-date the crisis that they need to fulfill. 

 

Capital Availability coming into the crisis was very strong in the US banking system and has been available through the banks as businesses and consumers tap credit lines without issue.  That said, capital will become more precious as this downturn persists in length and bank earnings decline from recessionary factors.  

 

Debt funds will be severely impacted in the current environment due to higher exposure to impacted asset classes including hotels and retail and potential mark to market/covenant issues from funding sources; and loss of ongoing funding sources from banks and the CLO market.

 

CMBS has been impacted with new loan originations and issuance essentially shut down; will be on the sidelines until market certainty improves and bond buying resumes

 

Pricing of CRE Capital has widened considerably for both public and private debt and loan markets.  Price discovery in process although there are fewer transactions so spread and floor requirements vary considerably. New loan originations in general will likely require significant spread increase of 100bps +/- with floors of 75bps+/-.

 

Regulatory Assistance: Interagency guidance from federal regulators this week encourages financial institutions to defer payments on loans impacted by COVID0-19 for up to 180 days.  This guidance allows banks to work with borrowers who will have troubles meeting their requirements due to COVID-19, especially on hotel and retail loans, without these loans being accounted for as Troubled Debt Restructures (or impaired).  Loans must be current prior to the crisis to be eligible for this type of modification and payment relief

 

Pandemics typically do not fall into Business Interruption Insurance.  Landlords may also try to make claims under other sections of their insurance policies. 

 

Force Majeure: There is only a small amount of case law on the subject of Force Majeure over the past 100 years and cases do not relate to pandemics.  For any claim, the language must be closely reviewed to determine applicability.  A governmental shutdown of construction sites would likely qualify as an unanticipated event beyond the reasonable control of a party.  Even if a contract does not have express Force Majeure language, the common law doctrines of frustration of purpose and impracticability may apply.  Keep in mind that even if Force Majeure does apply, that may only permit a delay in performance and not an excuse to performance. 

 

Use of technology is at an all-time high, this event will drive further adoption.  Challenges come with technology including privacy issues, less social interactions. Relationships will still prevail. 

 

Anticipating a Q4 Recovery for CRE. 

REFA COVID-19 Webinar Recap
GBREB

 
COVID-19 Rent Policy Update

Click here to view Turk & Quijano, LLP's COVID-19 Rent Collection Issues Update for more information on the CARES Act. 







COVID-19 Rent Policy Update
MAA

Calendar

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Webinar: Key Business Practices During Uncertain Times
Free Webinar
2:00pm
 
Webinar - Listen Up With Elise Simard
Webinar
11:00am
 
Webinar - Listen Up! With Elise Simard
Webinar
11:00am
 
CBA COVID-19 Webinar - Managing Business in Turbulent Times
Online
8:00am
 
Coffee Break With BOMA
Webinar
2:00pm