Subsequent Events

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

We have evaluated subsequent events through the date that the condensed consolidated financial statements were issued.

Since the onset of COVID-19, the Company has received rent relief requests, most often in the form of rent deferral requests. The Company is evaluating each tenant rent relief request on an individual basis, considering a number of factors. Though the outcome of tenant negotiations will vary tenant to tenant, the Company has entered and continues to expect that it will enter into rent relief agreements, such as agreements granting deferral of lease payments, with those tenants whose operations have been significantly impacted by COVID-19.

In May, in order to maintain the Company’s liquidity position and maximize flexibility, the Company’s Board of Trustees has temporarily suspended the quarterly common dividend to retain cash. The Board of Trustees will continue to evaluate the Company’s dividend policy based upon the Company’s financial performance and economic outlook and, at a later date, intends to reinstate the quarterly common dividend of at least the amount required to continue qualifying as a REIT for U.S. federal income tax requirements.