"Similar deals were cut in previous economic recessions, but the coronavirus-related business lockdown presents an unprecedented challenge, said Stuart Gabriel, director of UCLA Ziman Center for Real Estate.
'Clearly we are confronting something we have never known in our lifetime,' Gabriel said. 'There is going to be carnage all over the economy.'
A moratorium on residential foreclosures during the 2008 financial crisis was a balm for the reeling California economy, he said."
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