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midardon May 28, 2020 6:29pm
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Slate Office REIT Provides May COVID-19 Update
Slate Office REIT Provides May COVID-19 Update Slate Office REIT (TSX: SOT.UN) (the "REIT") today provided an update regarding the impact of COVID-19 on its business.
“We continue to be pleased with the resilience of our portfolio as we navigate the impacts of COVID-19 and prepare for the responsible re-entry and gradual increase in economic activity,” said Scott Antoniak, Chief Executive Officer of Slate Office REIT. “Slate Office REIT’s strong rent collections have continued, with the REIT substantially collecting May rents in cash, a testament to the quality of our assets, creditworthiness of our tenants and strength of our team.”
Rent Collections
- The REIT’s May rent cash collections are 96%, inclusive of government tenants who typically pay at the end of the month
- The REIT expects to substantially collect the remaining 4% of May rents through immediate cash collection or short-term deferral programs
About Slate Office REIT (TSX: SOT.UN)
Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio comprises 36 strategic and well positioned real estate assets located primarily across Canada's major population centres and includes two downtown assets in Chicago, Illinois. 61% of the REIT’s portfolio is comprised of government or credit rated tenants. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateofficereit.com to learn more.