The level of rent collection by U.S. REITs was about the same in May as it was in April, according to a survey just released by Nareit, an industry trade group. The survey covered six commercial real estate property sectors and compared the rents collected in May to those of a typical month prior to the pandemic.
Apartment REIT rent collections were also strong in May, remaining at 95% of a typical month and basically flat with April collections. Apartment landlords responding said they granted rent deferrals for 3% of rent owed. Single-family rentals and lower income apartments not owned by REITs have not fared as well.
Retail is another story. The sector is divided into free-standing retail, which are mostly convenience stores, restaurants and pharmacies, shopping centers, which are usually anchored by a supermarket, and regional malls.
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Source: CNBC - 🏆 12. / 72 Read more »