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AvalonBay Communities, Inc. (NYSE: AVB) chairman, president, and CEO Tim Naughton said market fundamentals in the multifamily sector are likely to remain soft until there is a pickup in the economy.

“Until people start going back to work, when you start creating some movement in the economy, we’re really not going to see the bottom,” Naughton said during a Sept. 23 NYU Schack REIT Leadership Workshop webinar.

The coronavirus crisis is increasing the divide between office properties that are staying ahead of tenant safety and wellness concerns, and those that aren’t, according to John Kilroy, Jr., chairman, president, and CEO of Kilroy Realty Corp. (NYSE: KRC).

“I’ve long spoken about the obsolescence of the office stock in the United States…this is simply accelerating that,” Kilroy said Sept. 2 during an NYU Schack REIT Leadership Workshop webinar.

RLJ Lodging Trust (NYSE: RLJ) President and CEO Leslie Hale said a full recovery in the lodging industry is dependent on a return of group demand, a process that could take several years.