VER - Vereit rent collection stays steady in November

Vereit (VER) announces about 97% of rent collected for November, inline with October's figure.The company is on target to hit the high end of Q4 2020-to-Q1 2021 acquisition pipeline of $150M-$300M, with $75M done so far this quarter at a cap rate above 7%.As part of the planned disposition program to trim office exposure from the current 17% of rental income to under 15%, the company has sold about $53M of property this quarter, with another $100M under contract. That would bring total sales year-to-date to $430M.Vereit was also able to borrow $1.2B through senior notes with a 2.7% average weighted interest rate and weighted average duration of 10 years.Source: Press Release

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Vereit rent collection stays steady in November