The global COVID-19 pandemic has and will continue to affect all aspects and sectors of the Canadian commercial real estate industry. Our Real Estate Group has recently held two webinars that address these issues with particular attention to impacts on the Alberta market.
The Pandemic's Impact on Alberta's Commercial Real Estate Market
In the first, Michael Witt and Robert Homersham, real estate lawyers from our Calgary office sat down to discuss the market impacts in commercial real estate during the current crisis, at a webinar attended by Alberta industry leaders.
The video and slides from the first presentation cover the following topics (among others):
- Implications of the pandemic for commercial leases and sale transactions of commercial properties, including issues such as contractual frustration and force majeure;
- The municipal response, including approaches to processing development approvals, monitoring construction sites, holding public hearings and providing financial relief to taxpayers; and
- The possible effect on major infrastructure projects such as Calgary's Green Line and Event Centre.
The Pandemic's Impact on Alberta's Commercial Mortgage Markets and an Update on the CECRA
The second webinar - for which the slides are available here - concerns the effects of the pandemic on commercial mortgage markets and, in particular, the key issues facing lenders and borrowers. An update on the Canadian Emergency Commercial Rent Assistance Program and related issues was also provided. Joining Michael Witt in presenting this second webinar was Calgary partner Michael Dyck.
Originally published May 26, 2020
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