As the world continues its fight against the novel coronavirus, infections are rising, unemployment is increasing, and more and more industries and businesses are suffering. Other than those that operate solely online, most industries are not immune, and those that most heavily rely on the EB-5 Immigrant Investor Program are among the hardest hit. Here are several resources you can use to keep yourself up to date on the impact of the pandemic on key EB-5 industries.
COVID-19’s Impact on the Commercial and Multifamily Real Estate Industries
Yardi Matrix conducted webinars on COVID-19’s impact on multifamily real estate and commercial real estate on April 1 and April 2, respectively. The webinars provide focused, practical information, and the recordings are available for download to paid members.
CBRE has also held flash calls to discuss the virus’s impact on the real estate industry, with recordings and notes available for free download on its website. On March 18, the entity held a flash call on COVID-19’s impact on commercial real estate, and on March 27, it held two flash calls: one on the impacts on multifamily real estate and one on what occupiers should be focused on during the crisis. Listening to both the Yardi Matrix and CBRE webinars can offer EB-5 investors opinions from a multitude of industry experts.
COVID-19’s Impact on the Hotel Industry
STR is publishing webinars about COVID-19’s impact on the hotel industry. The webinars cover hotel industries worldwide, with weekly updates examining the impact on the United States and Canada published every Thursday. The site thus allows EB-5 investors to keep abreast of the changes in both the United States and their home region.
Marcus & Millichap has released a report titled Coronavirus Hospitality Special Report: 2020 Outlook. The report looks at how COVID-19 is impacting the hospitality sector and the relief bills being passed to save struggling hotels.
On March 20, 2020, HVS posted an article called The Importance of Financial Relief for the Hotel Industry. The article examines the sources of revenues for different types of hotels and makes clear the dire situation the hospitality sector finds itself in.
Specific Resources for Your EB-5 Project
If you’re a project developer or EB-5 investor concerned about the pandemic’s impact on a particular EB-5 project, it’s recommended to consult not only industry analyses but also analyses from the state, county, and municipality of the project. State-level responses have differed across the country, and some states, such as Utah, have offered their own financial relief where the federal aid does not suffice. Besides, the health of an industry and the predicted success of a project depends partially on its region, so it’s always a good idea to have a solid grasp on both the industry and local-area outlook when conducting due diligence and getting involved with an EB-5 project.
