Our industry is directly impacted by a global health and economic crisis.

We have created this new section so that you can access relevant information on
how the Coronavirus is impacting the Flex Workspace industry globally.

Experts Interviews

Daniel While / Primonial REIM
A leading real estate fund manager in France and one of the fastest growing in Europe
Full transcript available on our blog

Summary

- "Lenders did what lenders do: they applied a superior risk premium, about let's say 50 basis points."
- The impact on rent will be more important than the impact on value
- "I don't see French tenants completely shifting to remote work or working from home"

Vanessa Sans / Happy Working Lab
Founder and coworking consultant at Happy Working Lab
Full transcript available on our blog

Summary

- Work on a retention strategy with members before they leave because it will be much more difficult to get them back later on.
- The coworking sector has been always characterized by its resilience and the coronavirus is not going to be an exception.
- Space-as-a-Service is going to be more understood by corporations from this moment.

David Brush / Merlin Properties
Chief Investment Officer at Merlin Properties, the largest Spanish REIT, which owns the flexible workspace brand Loom.
Full transcript available on our blog

Summary

- The impact of the virus on real estate has greatly differed depending on the sub-segment: warehouses actually benefited, Loom held on remarkably well
- “The days of: you buy a building, sign a ten-year lease and speak to the tenant in nine and a half years are gone”: the crisis reinforces the pre-existing trend towards a more customer-focused approach in real estate
- “No one had a pandemic playbook for their business prior to covid-19”: expect a re-focus in risk planning and PropTech priorities

Mickaël Haik / French Lawyer
Lawyer at the Bar of Paris and Quebec.
Interview in French with English subtitles.
Full transcript in English available on our blog

Summary

- Flexible workspaces are ones of the most affected segment of real estate
- The French gov't put some measures in place (March, 25th) to help both spaces and landlords (with respect to their mortgage obligations)
- If contracts contain a clause of force majeure, it may be applicable here.