When the damage is finally assessed, the January 2025 wildfires in Southern California will likely be the costliest blaze in U.S. history, and no doubt real estate will comprise a major component of those assessments. CoreLogic, a real estate data and analytics firm, estimated the total damage to insured properties in the main wildfire zones—the Eaton and Palisades fires—to be $30 billion with the number of impacted properties totaling nearly 17,000.
In the face of such unimaginable catastrophe, many commercial landlords and tenants are searching for answers to a variety of questions involving claims, available finance assistance, and legal issues related to recovering or restaging their businesses. While the road to recovery will be challenging, we include some resources that our fellow Southern Californians can consult for answers to basic questions and hopefully make the road to recovery a little easier. As always, our Los Angeles-based real estate team stands ready to advise landlords and tenants regarding the many legal challenges they will face in the coming weeks and months.
State of California. Ca.gov has quickly stood up a webpage that brings together information to assist Californians impacted by the wildfires, including real-time information, county-level resources, and aid applications and assistance. Governor Gavin Newsom issued an executive order to streamline the rebuilding of homes and businesses destroyed in the recent Southern California firestorms.
California Department of Insurance. The Department maintains a Wildfire Recovery and Readiness page with resources for disaster recovery. This page is more aimed at residential property owners; however, it does have application to a variety of real estate.
Federal Emergency Management Agency (FEMA). FEMA also has posted information for victims of the wildfires, including how-to guides in connection with applications for financial assistance.
U.S. Small Business Administration (SBA). The SBA maintains resource pages on disaster assistance and recently added a page dedicated to the California wildfires. The page contains information relating to eligibility requirements for disaster loans, the type of loans available, and how to complete a loan application.
Contact us
If you are a commercial real estate landlord or tenant with legal questions in connection with the wildfires, contact a Mhare Mouradian, MaryBeth Heydt, or your Husch Blackwell attorney.