As COVID-19 continues to sweep the globe, particularly impacting the United States, the world braces for unprecedented economic damage. As the number of infections rises, the unemployment rate follows suit, with companies across the United States undertaking mass layoffs to survive. Particularly impacted are the real estate and hotel industries, which are major players in the EB-5 Immigrant Investor Program. Here, we’ve compiled a list of resources you can consult to stay up to date on what’s going on in the key EB-5 industries.
How is COVID-19 Hurting the Commercial and Multifamily Real Estate Industries?
For top-quality information on the impact COVID-19 is having on multifamily real estate and commercial real estate, check out Yardi Matrix’s webinars from the beginning of April. The focused and practical information provided in the webinars is available through recordings accessible to paying members.
To supplement the data on Yardi Matrix’s webinars, additional information on COVID-19’s effects on the real estate industry is available through CBRE’s flash calls. One flash call, focusing on how the virus is affecting commercial real estate, was held on March 18, and two others, which discussed the novel coronavirus’s influence on multifamily real estate and where occupiers should be directing their attention, were held on March 27.
How is COVID-19 Hurting the Hospitality Industry?
If you would like to know how COVID-19 is affecting the hospitality industry, check out STR’s webinars. STR provides a slew of webinars covering the impacts of COVID-19 on hotel industries all around the world, publishing episodes on the United States and Canada each Thursday.
Accompany STR’s webinars with Marcus & Millichap’s report called Coronavirus Hospitality Special Report: 2020 Outlook. Thanks to the report, readers can get a glimpse into the virus’s impacts on hotels and how the government is working to provide financial aid to the hospitality sector.
An additional source of information is HVS’s March 20 article by the name of The Importance of Financial Relief for the Hotel Industry. The article breaks down where different types of hotels draw their revenue from and shows the dire battle for survival that hotels are embroiled in.
Impacts Differ by Location
EB-5 investors and project developers alike are advised to keep a close eye on the developments relevant to their project. This means monitoring the broad industry impacts as well as factors related to their EB-5 project’s particular state, county, and municipality. The 50 states may be united, but they are still unique, with each dealing with the coronavirus outbreak and the resulting economic fallout differently, so some states are bound to be more heavily affected than others. Besides, it’s a good idea anyway to consider region-based factors during EB-5 due diligence.