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There’s no need to be to be a real estate expert to see that social distancing measures and the shutdown of nonessential businesses represent a hard blow to shopping centre owners.

The last few months has allowed us to evaluate the immediate impact of the measures imposed to counter the spread of the virus, in addition to the partial lifting of those measures on the various types of real estate assets.

​It’s very common for developers, contractors and consultants to estimate construction cost escalation, for all asset types and trades, based on a single number or range. This is dangerous and can lead to grossly inaccurate development budgets and forecasts, and more time (and money) spent on contingency plans down the road.

Rushmore approach criticized by District Court of Appeals has impact for similar cases moving forward.

The point of time is an important distinction as the ‘base date of assessment’, or the date in which a value is derived in any given assessment year.