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Commercial tenant payment performance dropped sharply in the 2nd quarter of 2020 with retail tenants being the most under pressure of the 3 commercial property sectors. Not surprisingly, the “COVID-19 lockdown period” brought a dramatic weakening in commercial tenant payment performance in the 2nd quarter 2020, following a far more gradual decline in prior quarters. From 77.85% in the 1st quarter of 2020, the percentage of tenants in good standing dropped to 50.36% in the 2nd quarter.
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