COVID-19 Update from BPY
They published an update on the impact of Covid-19 this morning. My key takeaways: 1-Office portfolio leased to high quality tenants, biggest impact likely to be on new leases this year. 2-Retail is suffering. 3-Debt is mostly asset-level and non-recourse to BPY. 4-Balancing buybacks (6M shares over last 3 weeks) with the need to maintain a solid financial position. Still long, not quite as strong.