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How One South Florida Landlord Made Forbearance Decisions

In March and April, Claudio Mekler, the owner of five retail centers in South Florida, was busy. As COVID-19 was forcing his tenants to close their businesses, he was focused on working out forbearance deals with them.

“When making the decisions on forbearance, we analyzed each case and made one-on-one decisions based on real data,” said Mekler, CEO and founder of Sunrise-based Miami Manager. “We negotiated agreements that benefited the tenant, our investors and our lenders.”

That strategy mitigated the immediate need for rent relief. Mekler took a personalized approach to each situation. For instance, if a tenant paid six months in advance, he would reduce the rent by 50 percent. He let a tenant who was halfway through construction of a new store defer rent payments in April and May so they would only have to pay the common area maintenance, or CAM, fees during that time.

“Another tenant paid us 50 percent of the rent plus the CAM in April, May and June,” Mekler said. “In July, the business was to begin paying full rent again. Then in January, February and March 2021, that tenant will pay full rent plus installments of the deferred rent.”

As Mekler has worked through agreements with current tenants, he is still approached by companies interested in leasing space in the shopping centers that he owns, manages and leases in Miami-Dade, Broward and Palm Beach counties.

 

TO READ THE REMAINDER OF THE STORY, CLICK THE “DBR” LINK BELOW

 

Source:  DBR

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Robot Used To Kill Coronavirus In Hospitals Now Being Tested In Residential Buildings

The Xenex LightStrike Xenon-Ray Robot is the world’s only proven Coronavirus-Killing UV light disinfection device, according to a just-released peer-review study published by the UK’s Cambridge University Press.

And now, LightStrike, which is used in hundreds of hospitals, is, for the first-time, being debuted and deployed in a Miami residential building.

According to the study, LightStrike is 99.99% effective at deactivating SARS-CoV-2, the virus that causes Covid-19.

No other UV ray device has been proven to kill the coronavirus.

LightStrike is not used on people or pets. It disinfects the air and an array of surfaces.

Miami is one of the most coronavirus-impacted cities in the U.S. It is also one of the world’s most-competitive and high-value real estate markets, where developers are vying to offer anti-COVID features.

“The Covid-19 pandemic has created demand for a new disease-conscious lifestyle,” says Paramount Miami Worldcenter’s CEO-Developer Daniel Kodsi. “Buyers and residents consider disinfecting technologies essential and we are the first to offer these features; providing security and peace of mind to our residents.”

LightStrike Technology

LightStrike Germ-Zapping Robots are used in 650 healthcare facilities, worldwide. They include the Mayo Clinic, the University of Texas MD Anderson Cancer Center and Veterans Affairs hospitals from coast-to-coast.

“There are a lot of UV products on the market that make a lot of claims,” says Xenex (Zen-X) CEO Morris Miller. “LightStrike is the only robot that has been proven to kill SARS-CoV-2 and there are over 40-plus independent studies proving its efficacy.”

He emphasizes, “As an example, the robot was tested against SARS-CoV-2 at the Texas Biomedical Research Institute, which is one of only 10 Bio Safety Level 4 Labs in North America. Scientists there concluded that LightStrike achieved a 99.99% level of disinfection during a two-minute treatment.”

LightStrike’s intense, pulsating bursts of xenon UV light are not only proven to destroy the virus that causes COVID-19; but its robotic disinfection system also deactivates C.diff, Ebola, MRSA, SARS and other viruses and pathogens, according to an array of studies published by major universities and hospitals.

Paramount Miami Worldcenter is the only residential tower currently to be chosen to evaluate the efficacy, efficiency and cost-effectiveness of the LightStrike Robot, according to Xenex.

According to Kodsi, Phase One of the Paramount Miami Worldcenter LightStrike Robot evaluation focuses on the building’s public areas and a select number of its luxury high-rise homes.

He explains, “The primary public areas include the 5,700 SQF spa & fitness center and the building’s game room, kids’ playroom, indoor basketball and racquetball courts, elevators and restrooms.”

Phase Two disinfection will include high-rise homes.

About Xenex LightStrike

▪ Made-in-the-USA: San Antonio, Texas.

▪ Each LightStrike robot costs $125,000, which equates to a cost of approximately $100 per day over a 37-month period.

▪ Hospitals report disinfecting as many as 60-rooms per day with a single robot, which equates to a cost of about $3 per room.

▪ Robot emits bursts of brilliant, broad spectrum UV light that quickly destroys microscopic viruses and bacteria.

▪ Different pathogens are susceptible to UV light at different wavelengths.

▪ With broad spectrum UV light, LightStrike robots quickly deactivate viruses and bacteria by destroying their molecular structures and cell walls.

▪ Average-sized bedroom requires two, two-minute disinfection cycles (one on each side of bed) with additional two-minute treatment in the bathroom.

▪ LightStrike’s rays destroy micro-organisms on high-touch surfaces without causing damage to equipment, furniture, clothing and other items.

▪ Safely operated for more than 23 million cycles.

▪ No chemical residues or toxic fumes.

▪ LightStrike currently in-use at more than 650 healthcare facilities, food processing plants, and government buildings.

 

Source:  EIN Presswire

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There IS A Doctor In The House: Amenities Get Medical In The COVID-19 Era

Architectural Digest reports a new trend in amenities for multifamily residential buildings: on-site healthcare facilities or services that allow residents to receive medical testing or treatment at home. In this peri-pandemic era when home confinement is the prescription for avoiding infection and transmission of COVID-19, the appeal of having medical care come to you is undeniable.

As AD indicates, these new amenities go beyond the gyms, yoga studios, spas, and other ”wellness”-focused spaces found in many communities. While semi-private exercise spaces will likely be preferable to fully public ones for quite a long time to come, even those ‘safer’ options still require frequent disinfection, social distancing, and strict scheduling, and therefore may be less likely to provide the serenity—and therefore some of the health benefits—that they did prior to the pandemic.

For the next level of residential wellness offerings, developers are teaming up with providers of telemedicine, COVID testing, and concierge medical services to give their buildings and communities access to medical care from the comfort and isolation of one’s apartment.

The nexus for this boom in health-focused amenities, according to AD, is South Florida—which should surprise no one. The state has long been a mecca for older residents savoring their retirement years, making the population more likely to access healthcare in general. Additionally, the area is home to a sizable international community that may find concierge-style medical services easier to navigate than the traditional (and Byzantine) American healthcare system. It’s also a popular destination for medical tourism—and who wouldn’t want their elective surgery consultation (or even the procedure itself) conducted in the comfort and privacy of a residence?

On-demand medical concierge services were already available at the Ritz-Carlton Residences Miami Beach before COVID-19, reports AD, but their use has increased dramatically since the pandemic hit.

“It seemed like an added-value luxury perk and now it’s something they find essential,” a representative tells the outlet, referring to the development’s unit owners.

Jim Carr, co-founder of real estate development firm CC Homes, recognized the benefits of telemedicine even before the pandemic.

“If you have a routine illness or a checkup,” he tells AD, “you don’t want to tie up your day going to the doctor’s office.”

To that end, CC Homes now offers complimentary telemedicine to buyers of its units through a partnership with Baptist Health South Florida, a nonprofit clinical-care network with 10 hospitals and more than 100 outpatient centers throughout the region. Homeowners receive a one-year membership to Baptist Health Care on Demand, AD indicates, which includes unlimited virtual urgent-care visits along with an in-home TytoCare digital diagnostic device that transmits heart rate and temperature and allows doctors to examine patients’ skin, ears, and throat remotely.

Danny Elfenbein, director of digital and consumer solutions at Baptist Health, tells AD, “Developers have always looked at wellness—yoga classes, gyms, rooftop gardening—but actual healthcare hasn’t really been part of the mix before.”

Citing the TytoCare device as a “tipping point” toward a more formidable in-home healthcare trend, Elfenbein indicates that he is already hearing from other real estate companies interested in Baptist Health’s offerings for residents.

And this fall, as reported by Forbes, developer Royal Palm Companies will break ground on Legacy Hotel and Residences, a 50-story tower in downtown Miami with a full-service medical facility on the ground floor. Residents will have priority access to the $60 million, 100,000-square-foot Center for Health + Performance, which will include an onsite lab and pharmacy, elective surgical suites, diagnostic imaging capabilities, and a dedicated number of medically equipped hotel rooms for post-surgical patients, according to the outlet.

“When we set out to do this project we were contemplating… what’s not been done in hospitality,” says Royal Palm Companies’ chief executive officer Dan Kodsi.

After the coronavirus pandemic hit, he says the developers decided to apply the same design principles from the medical center to the hotel and residences, upgrading the ventilation systems and planning to include more voice-activated, touchless technology and UV light sanitation.

“Having a medical center has made people more enthusiastic,” he says of the post-pandemic response. “People take comfort in buying in a place that has these kinds of amenities. Health is the new wealth, we say.” 

The development is averaging four to five contracts a week, according to Forbes.

Not everyone agrees that this trend of in-home access to medical services is 100% beneficial. James Plumb, a doctor and co-director of the Jefferson Center for Urban Health, part of Thomas Jefferson University Hospitals, indicates to WHYY that residents, as well as landlords and developers, should think carefully before diving head first into boutique or ad hoc health services. He cautions that these services don’t necessarily involve consulting a patient’s primary care physician or reviewing their medical history, which can lead to unintended negative health consequences.

“You try to maintain folks in a contained system so decisions can be made with background information on patients,” he tells the network. 

Plumb also points out the redundancy of telemedicine as a housing amenity or perk, indicating that most major U.S. health systems, including Jefferson, have robust telehealth offerings already. A service like Health+ might not be filling any gaps, in that case; moreover, “[It] might be potentially harmful for continuity of care,” Plumb concludes.

Like with most trends, the popularity of healthcare amenities in residential buildings might only last until the next big thing comes along. Or until the development and worldwide administration of an effective coronavirus vaccine.

 

Source:  The Cooperator

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