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Email U.S. Rep. Van Taylor (R-TX) has circulated a draft bill that would require the Department of the Treasury (the “Treasury”) to establish and administer a facility to guarantee certain preferred equity investments in commercial real estate borrowers affected by the COVID-19 pandemic. The bill will be called the “Helping Open Properties Endeavor Act of 2020” or the “Hope Act of 2020” (the “Act”). https://www.cadwalader.com/resources/clients-friends-memos/covid-19-update-draft-legislation-sparks-hope-of-a-new-commercial-real-estate-preferred-equity-facility-by-the-department-of-treasury