Coming Back – Real Estate and Construction

United States:

Come back

July 02, 2021

Cadwalader, Wickersham & Taft LLP

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This is the news we have been waiting for, but we have been a little reluctant to say out loud: the rebound in home finance is around the corner.

The markets were very active at the end of the year and this level of activity continued unabated in the first half of 2021.

None of this should suggest that we are completely out of the woods and back to normal. Far from it.

Of all of the industries hardest hit by COVID-19, commercial real estate is high on the list of the worst-hit industries alongside retail (and there are obviously close ties here). I’m sorry for the hackneyed phrase, but it’s still unclear what the new normal for commercial real estate will look like. While words like “concessions” and “dismantling” are still in use, the fear of real estate seems to ease when tenants go back to work. It is still unclear how the shrinkage in office use or the longer-term effects will result in different asset classes.

And there will always come a point where we all have to take a step back and see where we have been and if we could have done things together to “protect” the industry. And is there any lesson here the next time a landmark event (and hopefully not one that has caused so much personal tragedy and such a disintegration of our economic fabric) wreaks havoc around us?

There will be time for all of this. But now head down and hold on. Things are coming back.

The content of this article is intended to provide general guidance on the subject. You should seek expert advice regarding your specific circumstances.

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