First Reit says Lippo Karawaci has not approached it about lease restructuring Indonesian property giant Lippo Karawaci…

First Reit says Lippo Karawaci has not approached it about lease restructuring

Indonesian property giant Lippo Karawaci on Monday said it plans to start discussions to restructure its leases with First Reit, as the pandemic has rendered its rental subsidies "unsustainable".
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Units of the healthcare Reit sank 23% by the afternoon, after the Reit manager clarified that Lippo Karawaci has not approached it about the matter.
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