Because of COVID 19, lending guidelines are very fluid which means the guidelines today can be different in a couple of weeks or months. 

Here’s an analogy, if you go to an upscale restaurant that was recommended by a friend because they had wonderful porterhouse steak and say, I’ve got $100 to spend and I want meat for dinner, with a starch and a veggie, and I’m thirsty, so add some fluid, thinking the chef will take care of you.

NNN is a fluid market.

Gen Z also, by being so young, has an attitude we all had when we were young.... invincible, even to a new Virus.Last week, we saw the closure of Florida beaches to stop the mostly Gen Z from partying.HOWEVER, after thinking about it more, if those that were partying for Spring Break passed the virus around and then you stopped their partying and told them to go home all across the US...........I think you get the point.... this only increased the spread of the Virus and probably exponentially.This might not sit well with Medical professionals, but if they would have just allowed the partying to go on for the next two weeks and kept everyone there, treating any who had gotten sick, they could have allowed the Virus to peeter out via the concept of Herd Immunity.Combined this with the fact that we lacked any kind of testing, both for a proper diagnosis AND to see if anyone had recovered developed immunity, as well as lack of protective equipment (N95 masks, gloves, gowns, etc.)... there was no way to prevent transmission and it made our Healthcare professional who are on the front line extremely vulnerable and demoralized.Unless I'm missing something, sending the kids home to every single State in all the corners of America right after they started partying and passing the virus around is one of the most illogical reaction that could have possibly has been done.To me.... it's already too late that a full lockdown is just going to make it far worse as more people will lose their jobs, over months and years, even when the Virus has finally be reduced to a normal flu like situation, the ones who could not recover economically will wind up either homeless or sick due to the stress they have encounter not only from the Virus but on the brink of financial disaster.We already know that reports show that the average American has only $400 left from their monthly pay check to survive on after their expenses.

It has 2% return so it is fluid enough to take out if I need to but higher than a traditional brick bank.

You are new and you dont have team yet plus market is very fluid.

@Joseph Ranola I would say there’s no typical scenario, it should be fluid with each deal.

@QuoVadis Gates You have to remain fluid and read the market.

Lot's of REIT's and institutional sellers for retail centers are not bringing assets to market and waiting until July, August when markets and lending are more fluid. 

Although these services are an economic lifeline in the short-term, their unit economics are an unsustainable model for restaurants to rely upon over the long-term.ConclusionThe effects of COVID-19 on public health, the economy and as a result retail real estate remains a fluid situation which I will continue to monitor in the weeks and months to come.