Learn who we are and how we serve our community
Meet our leaders, trustees and team
Developing the next generation of talent
Covering the latest news and trends in the marketplaces industry
Check out wide-ranging resources that educate and inspire
Learn about the governmental initiatives we support
Connect with other professionals at a local, regional or national event
Find webinars from industry experts on the latest topics and trends
Grow your skills online, in a class or at an event with expert guidance
Access our Member Directory and connect with colleagues
Get recommended matches for new business partners
Find tools to support your education and professional development
Learn about how to join ICSC and the benefits of membership
Stay connected with ICSC and continue to receive membership benefits
This week several national business and real estate organizations, including ICSC, sent a letter to federal financial regulators requesting additional clarity to build upon previous statements encouraging financial institutions to work with commercial real estate borrowers. While commercial real estate borrowers have seen this regulatory guidance factor into traditional bank loans, other types of real estate financing arrangements have not received the same response.
As the letter states, “Specifically, we request clarification that, in addition to traditional loan products, lending and financing arrangements, such as warehouse lines and repurchase agreements secured by multifamily and commercial real estate loans and commercial mortgage-related securities, are within the scope of the guidance in the Statement.”
ICSC is very aware and concerned by the lack of responsiveness by non-bank lenders to certain commercial real estate borrowers who are experiencing rent revenue impairment due to government imposed closures or social distancing requirements to stop the spread of COVID-19. We recognize that our members are challenged by tenants that cannot or will not pay their rent obligations and lenders who still require payment on their mortgage debt obligations. In many cases, these were and will return to performing assets after the pandemic response. Borrowers are looking for an opportunity to create fair workouts with their lenders.