Report shows pain for hotels, malls from COVID-19 crisis

Trepp has released a report assessing the impact of the pandemic on commercial real estate (CRE) property performance, reviewing net operating income (NOI), net cash flow, expenses and occupancy data.

While there has been much discussion on the broad-ranging effect the coronavirus pandemic has had on global economies within such a short period, CRE market participants have been looking for meaningful data as a gauge of how great a toll the pandemic took on property financials in 2020.

Across the top five major property types and property subsectors, Trepp’s findings on the magnitude of the impact of travel limitations, federally-imposed business closures, and other social mitigation public health policies on CRE and CMBS in 2020 were generally in line with broader market expectations.

“Consistent with the narratives surrounding the outsized disruption the pandemic had on lodging and retail, a more granular breakdown does indeed show that those two hardest-hi