Oaktree Real Estate Income Trust Reports May Rent and Interest Income Collections
June 9, 2020
In a June 5, 2020, filing with the SEC, Oaktree Real Estate Income Trust, Inc., a nontraded REIT, reported the following information about collections in May:
Update on May Rent and Interest Income Collections
Despite ongoing economic disruption, the Company collected over 93% of rent and interest income for May 2020 compared to 93% the prior month. Provided below is a further breakdown of key statistics and portfolio developments as of May 31, 2020.
Multifamily Property Investments
• Percent leased: 91%
• Rent collection: 95% for May vs. 94% the prior month
• Payment plans: 3% of tenants
Office Property Investments
• Percent leased: 88%
• Rent collection: 89% for May vs. 89% the prior month, with 8% of the uncollected amount for May coming from a single tenant with whom the Company is negotiating a temporary rent deferral plan
• Weighted average remaining lease term: 5.1 years
• Near-term rollover: all potential renewal activity has been resolved through 2020, and only 5% of total square footage expires in 2021
Real Estate-related Debt Investments
• Interest income collection: 100% for March, April and May
• Indebtedness secured by the Company’s real estate-related debt investments: none
Source: SEC
