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Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 15. Subsequent Events

COVID-19, which was characterized on March 11, 2020 by the World Health Organization as a pandemic, has currently resulted in a widespread health crisis, which has adversely affected international, national and local economies and financial markets generally, and has had an unprecedented effect on the commercial real estate industry. Given the daily evolution of the COVID-19 pandemic and the global responses to curb its spread, we are not able to estimate the effects of the COVID-19 pandemic on our results of operations, cash flows, financial condition, or liquidity for fiscal year 2020.

As of May 5, 2020, approximately 64% of our tenants have paid their April rent, which includes base minimum rental revenues and escrows for common area maintenance (“CAM”), real estate taxes, and insurance totaling $24.8 million. Additionally, a large number of our tenants have been negotiating rent deferrals to future periods. Through May 5, 2020, we have negotiated deferrals for approximately 700 tenants, which represents nearly $8.5 million that will be deferred over the next several months.