Link REIT Establishes Support Scheme for Small and Medium-sized Tenants Amid Coronavirus Disruptions
February 12, 2020 — Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Hong Kong stock code: 823), announced the establishment of an $80 million scheme to support its small and medium-sized tenants in Hong Kong to alleviate their operating pressure brought by the novel coronavirus epidemic.
This is an extension of Link’s relief efforts to support its tenants since the second half of last year, which were offered according to the circumstances of individual tenants.
Under Link’s support scheme, targeted relief measures include allowing rent payment by instalments, waiving late payment interests and service charges, granting rent-free periods, reducing rents, and introducing additional parking concessions to customers of restaurant tenants*. Actual arrangements will be subject to mutual agreement between individual tenants and Link, taking into consideration factors such as tenants’ rent-to-sales ratio, tenancy track records, and operating and liquidity conditions.
The support scheme will run in parallel with Link’s other support to tenants, such as lease restructuring and marketing initiatives.
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