LXi REIT says 84% of June to September rent collected
By Michele Maatouk
Date: Thursday 02 Jul 2020
(Sharecast News) - LXi REIT said on Thursday that so far it has received 84% of its rent for the June to September quarter.
The London-based real estate investment trust said a further 6% was already subject to agreed deferral and repayment plans, 4% is subject to ongoing negotiations with tenants and 6% has been granted as temporary concessions as part of Travelodge's CVA.
"The company continues to seek to strike an appropriate balance between protecting the interests of its shareholders and providing proportionate support to a small number of its tenants which have been impacted temporarily by Covid-19," it said.
"These robust collection statistics reflect the diversification and resilience of our tenants and sectors, the importance of our assets to our tenants and the proactive approach adopted by the company, our investment adviser and our tenants."
LXi said it remains well capitalised, with a strong balance sheet, low leverage, significant liquidity and very long-term debt facilities.
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