Coronavirus - Commercial Real Estate

[Bill Horton]

CORONAVIRUS IS AFFECTING COMMERCIAL REAL ESTATE

We have an office/retail building and our retail clients are having a difficult time with the shutdowns related to the coronavirus.  Two businesses have closed their doors until further notice due to lack of customers, and the obvious public health reason. We have discussed a moratorium on rent payments, with a plan to amortize the skipped payments over the remainder of the lease.  

I'm curious, has anyone else done this yet? Or are their other options out there that we are not thinking of?  We haven't signed anything yet, but will likely write up an addendum to the lease with hard deadlines and repayment plans.