Days after the Related CEO went off on how it wasn't okay for their tenants not to pay rent, Equinox—which is owned by Related—announced they wouldn't be paying their April rent
In his appearance on CNBC, Blau told Sorkin that 88% of Related residential tenants had paid their April rent, that 95% of its commercial tenants had paid the April rent, but that only 26% of Related’s retail tenants had paid the April rent. He then went off on a bit of a rant about how it was not okay for tenants not to pay rent or to write “blanket letters” to landlords, such as Related, about why they would not be paying their rent because of the coronavirus lockdowns.
In the first week of February—at virtually the top of the market—Ross, Blau, and Related Companies closed on a major capital investment into the Related Companies from Saudi Arabia’s sovereign wealth fund. The Saudis $320 billion Public Investment Fund, known as PIF, is chaired by Crown Princeand the man many believe is responsible for the shameless 2018 killing of journalist Jamal Khashoggi.
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