April Rent Collection Varied by Tenant Type
As stores reopen, sales are picking up steam. “We’re pleasantly surprised by the improvement in May,” said Kimco Realty CEO Conor Flynn. DLC Management collected 71 percent of the rent roll for April, and executive vice president and COO Chris Ressa said May will be higher. “As deals get done, that will continue to grow,” he said. Both companies’ portfolios rely heavily on grocery anchors and other essential retailers.
Another round of federal stimulus for consumers and aid for small businesses would help the strong survive, Nadji said. “Many of them are going to bridge through this successfully, but many of them are not going to make it.”