EDMONTON, Alberta, April 17, 2020 (GLOBE NEWSWIRE) — Melcor Real Estate Investment Trust (TSX:MR.UN) (the REIT) today announced an operations update as well as a change to the Q1 earnings date and AGM details.
OPERATIONS UPDATEThe REIT announced that as of today, it has collected 71% of April rents. By asset class, Retail tenants paid 58% of their total rent due, Office tenants paid 79%, Industrial tenants paid 99% and we received 100% of rents in our residential property.Darin Rayburn, President & CEO commented: “We are proactively working with tenants on a case by case basis and making arrangement for deferrals where appropriate, depending on the tenant’s financial need and potential to access government relief programs. As such, we want to caution unitholders that April rent collections may not be representative of collections going forward.We are all in this together. We see ourselves as partners with our clients and our main objective is to help each other survive and thrive when the COVID-19 impact on the economy levels out.”Q1 EARNINGS & CONFERENCE CALL
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