Subsequent Events

9 Months Ended

Sep. 30, 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 resulted in a widespread health crisis, which has adversely affected international, national and local economies and financial markets, and has had an unprecedented effect on the commercial real estate industry. Given the 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 October 26, 2020, we have negotiated deferrals with tenants of approximately $21.9 million that will be collectable over the next several months. In addition, as of October 26, 2020, tenant rent collections for October, which includes base minimum rental revenues and escrows for common area maintenance (“CAM”), real estate taxes and insurance, either directly or through our interest in real estate joint ventures or partnerships, approximated 87% of the required amounts set forth in the leases.