Neisen Kasdin, Miami Office Managing Partner, spoke to The Real Deal about the precautions South Florida landlords and developers are taking ahead of potential financial hardships as a result of COVID-19. While tenants may fall behind on rent due to being forced to close during the pandemic, Kasdin predicts lenders and the courts will likely be reluctant to foreclose on businesses.
“If you are a landlord and your tenant is a restaurant that has to close now, what are you going to do?” said Kasdin. “You are not going to be able to put another tenant in there.”