Taubman spokesperson Maria Mainville confirmed the authenticity of the letter. But she added that the memo 'does not replace our willingness to talk to each tenant about their respective challenges and help them chart an appropriate course for the future.'
"We understand that these challenging times are going to be hard for some tenants," Mainville said in an email."We are attempting to navigate through this situation in the best way we can, while being as flexible as we can with our tenants in light of our ongoing obligations. The tenant memo does not replace our willingness to talk to each tenant about their respective challenges and help them chart an appropriate course for the future.
Alex Victor, partner in the hospitality and restaurant group at law firm Davidoff Hutcher & Citron, said it's unclear whether a global pandemic qualifies as an event that would suspend payments under most leases. Bloomfield Hills, Michigan-based Taubman announced in February that it agreed to sell itself to Indianapolis-based Simon Property Group in a deal likely to close this year.
Victor, the hospitality group lawyer, said he expects a flurry of lawsuits over missed rental payments due April 1.
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