Mira, one of City View's developments in Los Angeles

Los Angeles-based apartment owner and developer CityView had 97% rent collection in April across its 6,000-unit portfolio. The company, which develops and manages apartment assets throughout California and other Western US markets, took a swift and proactive approach to mitigate rent loss, and has been largely successful in partnering with tenants. However, it expects to see further dislocation in May and June as the unemployment rate continues to rise.

"It has been an interesting six weeks. April rent collections were significantly better than we initially anticipated," Sean Burton, CEO of CityView, tells GlobeSt.com. "We had a little debate in the firm in doing prep work, and most people thought that rents were going to be 20% to 40% off. We have collected 97% rent from our residents."

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.