Retail Landlords in Talks on Rent Relief Amid Canada Shutdown
- Loblaw landlord Choice REIT, Canadian Tire landlord in talks
- Choice prepared to offer deferrals on a ‘case by case’ basis
A shopper enters a Loblaw grocery store in Toronto.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Landlords to major retailers including the Loblaws grocery chain and Canadian Tire stores have begun discussions on rent amid the Covid-19 shutdowns.
Choice Properties Real Estate Investment Trust, whose principal tenant is the Loblaw Cos. Ltd, said Monday it is prepared to assist qualifying small businesses and independent tenants on a “case by case basis” with a temporary rent deferral for 60 days. Canadian Tire Corp. landlord CT Real Estate Investment Trust also said discussions had begun with tenants for whom paying rent would mean “a significant challenge to their ongoing viability.”