CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) is proposing to offer tenants a switch from quarterly to monthly rent payments, and allow these to be deferred by one to three months in special cases, it said in a bourse filing on Wednesday. Read more at The Business Times.
Cromwell E-Reit's head of property Andreas Hoffmann said that the Reit is also considering providing rent-free leases in exceptional cases as an incentive for an early lease extension or removal of break options.
He said the Reit expects an improvement in tenant retention rates this year as a result of a large-scale retention programme launched prior to the outbreak. According to Mr Garing, the Reit is currently operating at"close to full potential within the constraints of the various 'lockdown' and 'circuit-breaker' measures". Its occupancy rate was 93.2 per cent as at Dec 31, 2019.
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