By Joe Hoppe
Segro PLC said Wednesday that it has collected 93% of rent due in the third quarter, and is continuing to work with tenants in the wake of the coronavirus pandemic.
The real-estate investment trust said that as of July 7, it has collected the majority of the 37 million pounds ($46.4 million) of rent due on June 24, due in advance for the third quarter, and was working with cash-flow hit tenants on a case-by-case basis. As such, GBP9 million of rent usually due has been re-profiled, mostly to be paid in the second half of 2020.
Segro said that as of June 30, 98% of the GBP88 million rent due for the second quarter has been paid after adjusting for GBP13 million of re-profiled rent agreed with customers, while 2%--around GBP1.5 million--remains outstanding.
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