A Nareit survey of April rent collection across the REIT industry points to a strong performance by industrial, multifamily, and office REITs.
Nareit Executive Vice President for Research and Investor Outreach John Worth told the REIT Report April 22 that industrial REITs saw 99% of typical rents received in April. The survey was conducted between April 8-15.
Multifamily REITs collected 93.5% of typical April rents, while office REITs collected 89.3% of typical April rents. Worth noted that there had been uncertainty as to how office REITs would fare, but “the fact that nearly 90% of rents have been paid does reflect the strong credit quality of REIT tenants.”
Health care REITs collected 85.7% of typical April rents, while shopping centers collected 46.2%.
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