U.S. mall owner Taubman is telling its tenants that they must pay rent amid the coronavirus pandemic.
In a memo dated March 25, which was obtained by CNBC, the real estate investment trust said it still has its own obligations to meet — such as paying lenders on mortgages and paying for utilities.
“The rental income that we receive from tenants is essential in order to meet these obligations,” Taubman said. “All tenants will be expected to meet their lease obligations.”