BRIEF-Spear REIT Says April Rental Collection Exceeds 60% Of Revenue Billed For Month

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BRIEF-Spear REIT Says April Rental Collection Exceeds 60% Of Revenue Billed For Month
Credit: © Reuters.

April 2 (Reuters) - Spear REIT Ltd SEAJ.J :

* JSE: SEA - SPEAR OVERVIEW - COVID-19

* SPEAR REIT LTD - APRIL 2020 RENTAL COLLECTION HAS EXCEEDED 60% OF REVENUE BILLED FOR MONTH

* SPEAR REIT LTD - DISTRIBUTION GROWTH FORECAST FOR 2020 FINANCIAL YEAR REMAINS UNCHANGED

* SPEAR REIT - HOTELS REMAIN CLOSED IN LINE WITH LOCKDOWN DECREE, WHICH WILL IMPACT RENTAL REVENUE GOING FORWARD

* SPEAR REIT LTD - UNLIKE OTHER ASSET TYPES, IT IS ANTICIPATED THAT HOTELS MAY NOT ENDURE A PROLONGED LOWER VACANCY RATE

* SPEAR REIT LTD - A CONTINGENT OF STAFF REMAIN ACTIVELY MARKETING BOTH ACCOMMODATION AND CONFERENCE OPPORTUNITIES FOR LATTER PARTS OF 2020

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