American Finance Trust CEO Sees Strong Rent Collection Trend Continuing
Dec. 2 2020
Michael Weil, president, chairman, and CEO of American Finance Trust (Nasdaq: AFIN), participated in a video interview in conjunction with Nareit’s REITworld: 2020 Annual Conference.
Weil said the company’s tenants have held up very well during the pandemic, noting that the portfolio is investment grade or implied investment grade, necessity-based retail that does not include fitness, furniture, or theaters assets.
This combination led to strong rent collection, “and we think we’re well-positioned to continue that,” Weil said.
Meanwhile, American Finance secured $715 million in CMBS financing in July. Weil said the move allowed the company to de-risk the portfolio and extend the maturity landscape by five years at historically low interest rates.