Which nontraded REIT exceeded its initial COVID-related rent collection projections by 6.6% in the second quarter of 2020?
Answer: Black Creek Diversified Property Trust had actual Q2 collections that exceeded initial COVID-related projections determined in March which assumed an 85% collection rate for the quarter, vs. over 99% in more normal times. The REIT exceeded this initial projection by 6.6% given 91.6% of rent has been received for the quarter to date, comprised of 90.3%, 90.4% and 93.9% of rent otherwise due for April, May and June, respectively – reflecting a gradual increase in collections throughout the quarter.Â
