Some net lease REITs took a hardline approach to tenant relief during the pandemic. While there was some flexibility for tenants experiencing true hardship, net lease owners expected tenants to pay rent through the pandemic. This was especially true for net lease assets, which tend to dominate the net lease sector.

REIT leaders at the recent GlobeSt.com Net Lease conference spoke on the Evolution of Net Lease REITs panel about how they handled tenant relief and management through the pandemic.

Cynthia Daly, SVP and head of underwriting at Four Springs Capital Trust, a REIT with middle market investment grade tenants, said the firm took a hardline approach to relief requests because the firm felt that most were opportunistic. "These were companies that were strong financially, and we addressed those requests appropriately," she said on the panel.