Real Estate News Updates and Resource Center
There are a lot of questions, legalities, and changes taking place as a response to today’s Coronavirus Pandemic and financial market uncertainty. New Branch Advisors remain in the forefront of this information and news that affects our business and can help our clients make sound decisions regarding their commercial real estate needs.
You may be wondering…
1. Are Commercial Real Estate Businesses open? Can I show or look at properties?
Per the North Carolina Covid Response Executive Order, Commercial Real Estate has been deemed an essential business, and remains operational within the social distancing regulations. For more detailed information, see Cabarrus County and Mecklenburg County, or The State of North Carolina’s mandate.
2. As a landlord, what variables should I understand in collecting rent from tenants?
If a tenant has acquired funding through the Payroll Protection Program (PPP), a part of the CARES Act, some of those funds may be used for payment of rent. We are seeing owners, landlords, and property managers offer rent relief, reduction, or deferral in a variety of ways that suit the needs of all parties, if and when needed.
Based on the situation, New Branch can assist you in determining what is best for your asset, timing, and financial needs.
3. I am initiating a purchase for property to conduct a 1031 Exchange. Has this process changed?
As of April 9, The IRS issued guidance to grant deadline relief for both 1031 exchanges and opportunity zone investments that are already underway. Both of these programs are designed to promote economic growth in communities, and the National Association of Realtors (NAR) made the case that investors in these programs should not be harmed due to the effects of COVID-19.
- 1031 Exchanges. If an investor has taken the first step of a like-kind exchange by selling the old property, and either the 45-day or the 180-day deadline falls between April 1 and July 15, the deadline has been extended to July 15.
- Opportunity Zones. If an investor who sold a capital asset planned to roll over the gain into an Opportunity Fund and the 180-day deadline to do so falls between April 1 and July 15, 2020, he or she can make the investment as late as July 15.
4. I may need to restructure or sell my commercial real estate portfolio for cash sooner than expected. Where do I begin?
New Branch Real Estate Advisor’s services offer a full consult, analysis, marketing, sales, and financing approach. We welcome a conversation to assess your needs and long-term goals. Let us mitigate any stress or concern that your real estate may be causing; our team is skilled in creating solutions and success.
5. I’m confused, frustrated, afraid or uncertain about the commercial real estate market and/or the decisions I am facing during the Covid-19 pandemic and beyond. How can New Branch help?
At new Branch Real Estate Advisors, our mission is to provide clarity to clients in commercial real estate. By embracing our CORE VALUES, we are here to help you through times like this. Please reach out to us to discuss our advisory services and gain professional perspective.