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Recap of Webinar on Leases and Loans: Feeling the Effects of COVID-19

   Filed under: Chapter

NAIOP San Francisco Bay Area Chapter (SFBA) kicked off its weekly members-only Zoom-In series on Thursday April 9th with over 100 registrants. The inaugural session, Leases and Loans: Feeling the Effects of the COVID-19 Crisis was moderated by Chapter President David Karol, Principal, Ridge Capital Investors, and featured Phillip Wang, Partner, Rimon Law and NAIOP SFBA Board Member.

Mr. Wang delivered a thoughtfully prepared presentation with extremely high take away value.  Topics included:

1.    Update on COVID-19 Restrictions

  • California Shelter in Place Order – Executive Order N-33-20
  • Essential Business – 16 Critical Infrastructure Sectors
  • Detailed List of Essential and Nonessential Businesses
  • Update on SF Bay Area Restrictions

2.    Effect on Leases

  • California Moratorium on Evictions
       -Executive Order N-28-20, 3/16/20 – Local Authorization for Eviction Moratorium
       -Executive Order N-37-20,  3/27/20 – Statewide Residential Eviction Order
       -Judicial Council, 4/6/20 – Rule Change to Restrict Evictions/Foreclosures

3.    Effect on Loans

  • Relief for Residential Loans – Forbearance Relief
  • Relief for Multifamily Loans – Forbearance Relief
  • Relief for Multifamily Loans (CARES Act)
  • Relief for Other Commercial Property Loans

4.    Defenses to Performance

  • Force Majeure Clauses
  • Impossibility, Impracticability and Frustration of Purpose

5.    CARES Act – Bankruptcy

  • Changes to the Small Business Reorganization Act (SBRA) allowing more small businesses to potentially consider Subchapter 5 – a faster and less expensive option for Chapter 11 business reorganizations

6.    Other Related Practical Issues

  • Insurance for Business Interruption
  • California Property Tax Deferral
       -NAIOP SFBA advocating to obtain waiver penalties

Click here to download Wang’s full presentation.
Feel free to email him with any questions at


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