Q4 2020 Choice Properties Real Estate Investment Trust Earnings Call

Ladies and gentlemen, thank you for standing by and welcome to the choice properties Real estate investment Trust Q4 earnings announcements at this time all participants are in a listen only mode. After the speaker's presentation. There will be a question and answer session to ask a question. During the session you will need to press star one.

One on your telephone please be advised that today's conference is being recorded if you require any further assistance. Please press star zero I would now like to hand, the conference over to your speaker today, Doris Bond Senior Vice President General Counsel and Secretary. Thank you. Please go ahead.

Thank you good morning, and welcome to choice properties Q4, 2020 conference call.

I'm joined here. This morning by rail Diamond, President and Chief Executive Officer, Mario better Pepto, Chief Financial Officer, and an erotic executive Vice President leasing and operations.

Before we begin today's call I would like to remind you that by discussing our financial and operating performance and in responding to your questions. We may make forward looking statements, including statements regarding choice properties objectives travel.

Strategies to achieve those objectives as well as statements with respect to management's beliefs plans estimates intentions outlook and similar statements concerning anticipated future events.

Circumstances performance or exceptions that are not historical facts.

These statements are based on our current estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from that.

Conclusions in these forward looking statements.

Additional information on the material risk that can impact our financial results and estimates from the assumptions that were made in applying in making these statements can be found in the recently filed Q4 2020 financial statements and management discussion and analysis, which are available on our website and on SEDAR.

I will now turn the call over to Ram.

Thank you Doris and good morning, everyone. Thank you for taking the time to join our Q4 conference call. We are pleased with both our financial and operational results for the quarter.

Our portfolio of high quality real estate continues to produce stronger in <unk>.

Stable rent collections by all accounts 2020, it was a challenging all of us the COVID-19 pandemic significantly impacted communities in our day to day lives response, we took thoughtful actions to mitigate the effects of the pandemic on our business and continue to focus on the best interest of our employees.

<unk> tenants and other stakeholders.

The uncertainty we experienced in 2020 is continuing into 2021, but real positioned to withstand the continued disruption.

Best of luck as.

Well occupied and 97, 1% and is leased to high quality tenants across Canada, the pandemic and the most recent lockdowns have had the most impact on our retail assets that said, we're in a solid position given our tenant mix.

Primarily leased to the grocery stores pharmacies.

Sales to be based tenants, who continue to operate.

Many of US have found ways to operate at a reduced capacity weighted through delivery curbside pickup.

Those with limited ability to operate we have been forced to close entirely have been most impacted during the recent lockdowns.

This includes fitness facilities dining restaurants, and some personal service retailers, which rose.

6% of our overall retail portfolio.

Beyond retail, we also had high quality industrial office and residential properties in Canada's largest market. This diversification enables us to further reduce risk and stabilized cash flows.

The stability in our portfolio is reflected in our rent collections for the quarter, we collected over 98% of our rents which is consistent with Q3 Mario will speak more about.

Okay.