What does stalled HEROES Act mean for CRE?

Credit: Sarah Silbiger | Getty Images

By Sebastian Obando | National Real Estate Investor

While the CARES Act has helped multiple sectors of commercial real estate achieve relative stability in rental income over the past few months, those rental flows are now in jeopardy without the passage of the federal rescue package.

Up until now, the U.S. Senate has failed to resolve a dispute over how much money to spend to mitigate COVID-19’s impact on the country’s economy. As of Wednesday morning, House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin, who have been leading the negotiations, remained more than $1 trillion apart on the final price tag on the package, which would include an extension on expanded unemployment benefits for out-of-work Americans, more aid for small businesses and potentially aid for cities and states.

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