Support Hawaii Businesses

Hawaii REITs Request Federal Delegation to Support Hawaii Businesses

Nareit Hawaii sent a letter to Hawaii’s federal delegation today requesting that they enact legislation of the federal stimulus package to help support the wide range of small businesses and their employees at REIT-owned properties statewide. Attached is the letter, which is undersigned by 19 REITs operating in Hawaii.

Dear Senators Schatz and Hirono and Representatives Gabbard and Case:

The undersigned companies are REITs that own and/or operate health care facilities, affordable rental housing, apartment buildings, hotels, self-storage facilities, shopping centers, malls, and office and industrial properties in Hawaii.

Our tenants and their customers include many individuals and small businesses, from locally-based restaurants and retailers to doctors and other health care providers. As a result of the COVID-19 pandemic, Governor David Ige has issued a stay-at-home mandate, and, as a result, for the foreseeable future, many of our tenants and their customers will not be able to access our properties (many of which are closed) or continue earning income.

We care deeply about our tenants and the communities throughout Hawaii, and we respectfully urge you to enact H.R. 748, legislation that would help our tenants and other small businesses retain their employees and pay their ongoing living or business expenses, in order to weather the current economic crisis.

We appreciate your efforts in advancing H.R. 748, and we implore you to pass it expeditiously to assist our tenants and their customers during these difficult times.

If you have any questions, please contact Gladys Quinto Marrone, Nareit Hawaii’s Executive Director, at gmarrone@nareithawaii.com.