Dottore Companies, LLC
Stay in the Know

How Dottore Companies Can Help Real Estate Owners Navigate This Unique Economic Downturn

The economy is cyclical by nature, and can often be forecast. But what we all experienced this past year was different. No one could have predicted precisely what 2020 would bring.

Instead of being caused by an internal factor, the current economic downturn came out of nowhere, and with a swift sweep the entire world was engulfed. The effects were widespread and it will take more time to fully understand the impact of COVID-19 on the nation's real estate owners. Put simply, recovery is going to be different.

How the COVID-19 Pandemic Is Affecting the Real Estate Market

Before COVID-19, we saw a robust economy that was rapidly moving ahead. But the abrupt halt and now familiar lockdowns helped to stop the spread of the illness while also putting an end to many business dealings. Real estate was one sector that took a serious blow in the economic turn. While some classes remain stable and have even seen growth, others really felt the impact. Because travel was heavily curtailed or stopped entirely, real estate that benefited from conferences, conventions, or general tourism sustained serious damage. Retail real estate took a hit too. It has already been on a steady decline, and the pandemic sealed that fate.

Office space remains unknown with many businesses embracing a new remote, work-from-home model. Others plan to return to in-person work and will require greater space for distancing. Offices are still here to stay, but their ultimate future remains uncertain. What is known is that those business and real estate owners who cannot sustain their companies or properties will need to find alternative ways to wind down operations. Receivership can help principals to find the most equitable way forward while preserving value and settling disputes.

Disputes Are Looming & Forbearance Is Coming to an End

The financial distress we see coming is likely to fuel partnership disputes in some types of real estate, especially between partnerships and operating companies. The situation will bring an increased need for receivership assistance to fairly manage and settle affairs.

Part of the unknown when we look down the road is that due to mandates or goodwill, many financial institutions have offered forbearance to borrowers, as have real estate owners to their tenants. This is, of course, the right thing to do, but this is not a long-term, sustainable solution. As the forbearance timeline ticks down, financial shock is waiting. Business and property owners are now staring potential financial distress in the face. And as currently low financing rates rise in the future, many hidden problems will begin to surface.

Free Consultations & New Financing Solutions Offered by Dottore Companies

The ongoing pandemic has a longevity that no one anticipated, and the resulting economic impact and distress will too. Many companies or property owners will need receivership to make it through. As the end of forbearance brings to bear the true weight of your financial crisis, know that you have allies.

We are honored to offer our clients and fellow members of the business community no-cost consultations to receive our advice and counsel on how to navigate the pandemic's financial challenges. And by partnering with a highly respected group of real estate and private equity providers we are able to bring beneficial financial options to businesses.

Get in touch with Dottore Companies to discuss these and other finance options and please contact us with any questions about how to stabilize your impacted business, or to inquire about debt recovery strategies. Feel free to give us a call at 216-771-0727, or email If you decide that a receivership is the best way forward for your situation, know that our experienced team will be here for you. We look forward to hearing from you and wish you the very best in this new year.

Browse Blog by Category:

Filter Blog by Tag:

Our Google Page Check us out on LinkedIn Visit us on Facebook! Attorney-Bar Associations in Cleveland

Join Our Mailing List

Receive our newsletter with latest industry news and press releases via email.

Contact Us

2344 Canal Rd
Cleveland, OH 44113
Phone: 216-771-0727
Fax: (216) 771-2450

All Rights Reserved 2024, Dottore Companies, LLC - Admin Login
Web Site Development by Alt Media Studios