Invesque reported solid second quarter financial results Wednesday. The real estate investment trust cited cost-cutting measures announced in the first quarter to strengthen liquidity and preserve cash. Those adjustments included the suspension of the firm’s dividends and executive cash bonuses, as well as additional personnel cutbacks.

Rent collections remained consistent throughout the second quarter, at approximately 94% for the months of May, June and July. That’s up from 88% collected in April, the firm noted. Invesque added that it has had to grant rent deferrals to two operators due to COVID-19: Symphony Care Network and Bridgemoor Transitional Care. 

“In both cases, we’re working through interim COVID-19 relief, as well as possible long-term restructuring with their current leases,” Invesque Chief Investment Officer Adlai Chester noted during an earnings call Thursday.

For more information on Invesque’s second-quarter earnings, check out: Invesque eyes Symphony portfolio as COVID-19 creates ‘challenging operating environment’ and Invesque: Great progress but pandemic still creating ‘challenging operating environment.’

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