American Finance Trust Announces 99% Rent Collected In First Quarter
April 07, 2021 at 06:00 AM EDT
NEW YORK, April 7, 2021 /PRNewswire/ -- American Finance Trust, Inc. (Nasdaq: AFIN) ("AFIN" or the "Company") announced today that it collected 99% of the original cash rent due for the first quarter of 2021 as of April 1, 2021, including nearly 100% of the original cash rent due in the Company's single-tenant portfolio.
"Rent collection continued to increase for the third consecutive quarter across AFIN's portfolio of necessity-retail tenants and has returned to pre-pandemic levels," said Michael Weil, CEO of AFIN. "Our multi-tenant portfolio improved its rent collection to 98% during the quarter and our single-tenant portfolio remained excellent with nearly 100% of rent collected. The well-located and high quality centers in our multi-tenant portfolio are generating leasing demand from new and existing tenants, and our recently expanded team of asset managers delivered strong cash collection and leasing results in the first quarter."
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