StockMarketWire.com - Irish commercial property investor Yew Grove REIT said it had collected 97% of due rent for the second quarter of 2020, exceeding expectations stated in April of at least 95%.

The company said it had agreed a temporary rent deferral with a repayment plan on an additional 1.9% of the unpaid balance.

That remainder was due from non-food retail outlets, which had been closed and were expected to reopen soon.

You Grove REIT said it had begun discussions with those outlets.

'We are encouraged that the strength of our tenant covenant across the portfolio and our close relationships with the occupiers of our buildings ensured our collections for the second quarter have remained robust despite the very challenging market conditions,' chief executive Jonathan Laredo said.

'As previously stated on 15 April, we expect to announce a second quarter dividend at the end of June following a board meeting to review our quarterly results.'




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