Real Estate Investors collects 90% of rents in Q1
Midlands-focused real estate investment trust Real Estate Investors said on Wednesday that rent collection for the three months ended 30 June had risen to 90.16%.
Real Estate Investors also highlighted that rent collection for the current quarter was already at 81.94%, something it credited to the diversification of its portfolio and strong tenant relationships.
Based on current constructive dialogue with a number of tenants, the AIM-listed firm anticipates that rent collections for both periods will improve as tenants recommence trading from their premises.
Chief executive Paul Bassi said: "The stability and diversity of our asset base remains the key ingredient for the continued success of our rent collection and the resilience of our property portfolio."
"REI remains fully operational with staff now having the ability to work flexibly from our offices in a safe environment, collaboratively working together to pursue opportunities and asset management initiatives that will drive capital and income growth and underpin the future success of the business."
As of 1105 BST, REI shares were up 3.75% at 33.20p.