PFI forgoes $500,000 of rent due to covid-19

Wed, 03 Jun 2020

Property for Industry collected about 90 percent of rents due in April and May and has agreed to rental abatements and deferrals with 45 tenants amounting to about 1.2 percent of its annual rent, or about $1 million. Chief executive Simon Woodhams told the annual shareholders' meeting, held virtually because of the coronavirus crisis, that the abatements and deferrals were evenly split, meaning that about $500,000 won't be paid. On May 8, PFI said about 6 percent of its tenants were contractually entitled to some form of immediate rental...

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