Merlin Waives 100% of the Rental Payments from Shops and Hotels Closed by Covid-19

23 March 2020 – Brainsre.news

The firm led by Ismael Clemente has started to communicate this decision, which will benefit 77% of its tenants in the retail segment.

Merlin Properties, the largest Socimi in Spain, has decided to waive 100% of the rental payments from the shops and hotels that it has as tenants whose activity the Government has ordered to close, under the measures imposed as a result of the state of emergency, according to El Confidencial.

The firm led by Ismael Clemente has started to communicate this decision by telephone and by letter. It will benefit 77% of the Socimi’s tenants in the retail segment and the two hotels that it holds in its portfolio: the Novotel, located in a mixed-use building, which it owns on Calle Diagonal 199 in Barcelona and the Eurostars located in one of the Cuatro Torres in Madrid, which it shares with the professional services firm PwC.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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