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Alternative Income REIT expects to collect at least 84% of Q3 rent by September

By BFN News | 09:17 AM | Monday 13 July, 2020


Commercial property assets owner Alternative Income REIT said it expected to collect at least 84% of third-quarter rent by September. The company said 89% of the quarterly rents, which represented 70.4% of the annual rent roll, had been collected, including the quarter rent from Meridian Steel, whose rent free period ended on 23 June 2020. The proportion of rents that were contractually due monthly was now 17.4%. A small number of tenants, representing 12.2% of the annual rent roll, had been granted concessions for a limited period to settle their rent monthly, of which 72% had settled their July rents. 'The company remains in discussion with a small number of tenants, representing 11% of the rent roll, in respect of potential deferral of their rent payments in support of their near term cash flow requirements,' the company said. 'The group remains well capitalised and we entered this period of uncertainty in a robust position supported by our low recurring annual overhead,' it added. At 9:17am: (LON:AIRE) share price was 0p at 51.1p Story provided by StockMarketWire.com

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