Kingston Properties Limited (KPREIT) – Message from the CEO

Posted: March 27, 2020 at 9:16 am

Message from the CEO of Kingston Properties Limited

Dear Stakeholders,

We have been keenly following the latest developments with the new Coronavirus disease (COVID-19) both from the Ministry of Health and Wellness in Jamaica and the World Health Organization (WHO). For the last several weeks, we have been taking steps at our properties to safeguard and protect our stakeholders by not only providing information to our tenants, employees and partners but equipping all common areas of our properties with hand sanitizing dispensers and establishing protocols for access to each property. In addition, we have been working with our partners to ensure common areas are thoroughly cleaned and sanitized.

As of Monday, March 16 we will put in place our flexi-work plan which will involve staggered periods when staff will be present in the office.  Additionally, we have boosted our remote office capabilities to continue to fulfil our mandate to all our stakeholders.

Please feel free to contact us at info@kpreit.com.

Our Property Portfolio

Over the last three years we have been employing a strategy to widely diversify our portfolio of properties not only in terms of geographic location but the mix of property types and tenants. We have remained resilient so far and continue to monitor each property’s performance considering the effects on our tenants from how each territory manages COVID-19.

We have completed due diligence on two deals currently close to completion and have been working with our partners to ensure smooth closings despite any disruption that may occur with our financial partners during this period. Rest assured that even on the closing of these two transactions, we will still maintain very solid cash balances that would allow us (1) to deal with any volatility of flows from our existing tenants and (2) to take advantage of any opportunities that may be on offer that meets our investment criteria.

We continue to wish safety for you and your families by continuing to follow the precautions and updates on COVID-19.

KGR

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