The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed by the United States Senate on March 25, 2020, passed by the United States House of Representatives on March 27, 2020 and signed into law by President Trump on March 27, 2020. The CARES Act is the third financial aid package enacted in response to the Coronavirus Disease 2019 (COVID-19) crisis and includes $2 trillion in relief measures for enhancing loan programs to businesses, providing support to workers and families, enacting tax relief for businesses, and aiding state and local governments.

Several provisions of the CARES Act provide support to specific real estate businesses, investors and projects. Below is an overview of those real estate-related provisions.

Read the full GT Alert, “Real Estate Provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

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Photo of Zachary A. Dovitz Zachary A. Dovitz

Zachary Dovitz represents clients in all aspects of commercial real estate transactions, such as acquisitions, sales, leases, licenses, development agreements, and property management agreements. Prior to joining Greenberg Traurig, LLP, Zack served as in-house counsel for the Massachusetts Development Finance Agency.

Zack also…

Zachary Dovitz represents clients in all aspects of commercial real estate transactions, such as acquisitions, sales, leases, licenses, development agreements, and property management agreements. Prior to joining Greenberg Traurig, LLP, Zack served as in-house counsel for the Massachusetts Development Finance Agency.

Zack also has experience with public procurement, grant agreements, service contracts, and construction contracts.

Photo of Edward S. Hershfield Edward S. Hershfield

Edward S. Hershfield focuses his practice on representing clients throughout the United States in all aspects of complex real estate transactions, including acquisitions, financings, restructurings, zoning and land use matters, development and permitting processes, workouts, and dispositions. His clients include institutions, national real…

Edward S. Hershfield focuses his practice on representing clients throughout the United States in all aspects of complex real estate transactions, including acquisitions, financings, restructurings, zoning and land use matters, development and permitting processes, workouts, and dispositions. His clients include institutions, national real estate developers, private equity funds, hedge funds, foreign investors, pension fund advisors, publicly traded corporations, national banks, and other lenders.

Ed is regularly involved in all facets of structuring real estate acquisitions, developments, financings and dispositions, including working with clients to create development entities, analyze potential sites and projects, and obtain traditional and innovative financing, including preferred equity and mezzanine loans. He also works with owners and lenders to develop and implement financing workouts and restructures of real estate loans. He has been involved in creating numerous “shared appreciation” restructurings where lenders and other creditors obtained equity interests and additional payments based on future property performance and sales value. His experience includes working with owners, private equity funds, hedge funds, and other investors in identifying value in real estate assets, developing strategies to give his clients competitive advantages, and acquiring assets or loans to enable his clients to take full advantage of opportunities.

Photo of Kristen J. Lonergan Kristen J. Lonergan

Kristen J. Lonergan is Co-Chair of the firm’s New York Real Estate Practice. She provides counsel to REITs, investment funds, developers, lenders and other clients on the acquisition, development, financing and disposition of multi-family, office, hotel and other types of properties throughout New…

Kristen J. Lonergan is Co-Chair of the firm’s New York Real Estate Practice. She provides counsel to REITs, investment funds, developers, lenders and other clients on the acquisition, development, financing and disposition of multi-family, office, hotel and other types of properties throughout New York and the rest of the country.