Brief: Minto Apartment REIT Provides Operations Update Related To Covid-19

Minto Apartment Real Estate Investment Trust

16/04/2020 16:28

April 16 (Reuters) - Minto Apartment Real Estate Investment
Trust  MI_u.TO :
    * MINTO APARTMENT REIT PROVIDES OPERATIONS UPDATE RELATED TO
COVID-19
    * MINTO APARTMENT REAL - WILL NOT IMPLEMENT AT TIME RENT
INCREASES
THAT WERE SCHEDULED TO COME INTO EFFECT ON APRIL 1, 2020, MAY 1,
2020 OR JUNE 1, 2020
    * MINTO APARTMENT REAL ESTATE INVESTMENT - CREATED PAYMENT
PLANS
THAT DEFER RENTAL PAYMENTS FOR RESIDENTS WHO ARE UNABLE TO PAY
AS A RESULT OF OUTBREAK
    * MINTO APARTMENT REAL ESTATE INVESTMENT TRUST - AS AT APRIL
14,
2020 FEWER THAN 1% OF REIT'S TENANTS HAVE ENTERED INTO A
DEFERRED PAYMENT PLAN
    * MINTO APARTMENT REAL ESTATE INVESTMENT TRUST - OCCUPANCY
IN
APRIL 2020 REMAINS STRONG
    * MINTO APARTMENT REAL ESTATE INVESTMENT - REIT'S TENANTS
PAID
THEIR RENT IN APRIL & AS AT APRIL 14, 2020 REIT COLLECTED 97% OF
RENTAL REVENUE FOR MONTH
    * MINTO APARTMENT REAL ESTATE - AS AT APRIL 15, 2020 REIT
HAS
ABOUT $196 MILLION IN FUNDS AVAILABLE THROUGH A COMBINATION OF
CASH & UNDRAWN LINES OF CREDIT

Source text for Eikon:  urn:newsml:reuters.com:*:nCNWZJqZ1a
Further company coverage:  MI_u.TO 

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