remotely. call hope healthy everyone working Thank been you, Heather. We about and is strong. quarterly two since is properties we began our and This months not over It's results. started closing
in of located number our COVID-XX significant Our hotspots. a are headquarters properties in
future challenges forward. to call moving are the thus the we this of how navigated business, and positioning have to discuss wanted we far, how our Nonetheless, we the Company
reopen. malls of we As will of tomorrow, four XX have
are conservative states making the We are progress. reopening, for more operating but in of we some
all month, to curbside are now pickup by of the retail. late of hope that larger open properties our Our properties June, open. some end expect will for New Jersey we By and offering properties this
requirements. to, due as later many course, distancing of recovery to in dining process the pivoted entertainment uses sector be mall and social the such Of the will
casualties in capacity. some be be to there'll sustain that won't able these Unfortunately, categories reduced
value will in to within and is balance We retailers also continuous service more expect know and their uses, locations, of struggle the weaker only new offer that brick-and-mortar it What retailer evolution their that there platforms from customers online we diverse presence. these challenges to as is interest the curbside they are to through finding pickup. make
on believe to stay, more experiences retailers We collection mall and them here capabilities able digital the offers brands enjoy at develop be to pickup go. buy online, Customers channels. of is the the through will service to mall the as
to can or a unable while view company projections, moving our timeline we're specific financial our forward. we of offer industry So, talk the about and
the just positioned To outlined, face. believe of people couldn't on thank team. forward to their comfort take things and that creating we I the move a challenges warriors to moment what we Given have to end, and PREIT pivoted zone. meet the worked functions, we outside across more simply be are how impressed wanted of new I lanes, we well proud and
us, do have is debated. initial not pay the And tenants to As been during rent still period. unequivocally of many knowledge, hotly collections common our while opted closure
XX% the of leasing this count rents end by Our current to and the will the will allow of action call that deferrals May recovered and XX% at collect the end accepted began XXXX. by be negotiating team rent the of us April to year, outstanding over and
year-end. $XXmillion on liquidity and us enhancing in XXXX, a number putting securing reducing our expenses, forbearance of in in liquidity steps preserved a real furloughing employees, expenditures and liquidity the dividend, including capital liquidity actions position taken positive mortgage payments. We've are year taxes total, our estate at and preserve In throughout operating reducing our to common approximately and
and quarter, to continue municipalities in entitlement We push we meet successful us last forward in the to transactions to process. virtually getting various advance we've announced with been the
our we mixed get are to the finalize continue transactions, us allowing taken of our vision to sheet. multifamily the creating steps side have These to expect use creating our and improving business space community We other take of to further to our hubs, balance COVID. and
to believe comfort, continue we are properties look price or tenant right We on forward, wellness health Generally trends believe consumer are and As focused we positioned points demand. speaking, properties have to the we and reasonable, people to our will and favor well are our meet markets, value. mix. cater mass
a that's suited well the curated mix have merchandizing We for future.
in more Island from portfolio will properties exited and in quality We the barrier do stores, this mainstream benefit and larger away have believe shift entry like a markets. our regions, lower Washington, and shift. properties, department top from replace productivity portfolio a will metro we mall D.C., Philadelphia, high to well-located, Rhode there be Providence Having
more estate even our offer real Our ideally to is for suited communities.
facilities, In addition The are cold storage. mile for our diverse potential given powerful to and multifamily, the self-storage, outpatient new fulfillment, medical educational last locations facility, limitless. now properties we're exploring uses and even almost uses like
you let the While quarterly me this about not quarter. some into is insight give results,
impacted was X%, The same-store revenue prior past to with expectations was from years, the impact in COVID tenants. was by a plan. few to proceeding decreased ex-lease in sector by quarter of minus marked This our driven driven itself bankruptcies. pre-COVID NOI and the things according line bankruptcies by challenged March, Prior events the were that have XXXX and for terms
Valley reached Goods up is February, strong. was foot a anchor were Malls. Morristown Dick's increase. Meeting both of and Michael's Mall, We Dartmouth X.X% sales at Plymouth per and our Traffic Traffic square Burlington opened through through closure properties. had Mall, X.X% Sporting $XXX at Sales replacement
their and among this Despite the in our COVID-XX replace particular, stores will the impact department regain landscape. and into this to challenged long to footing future we pandemic and Department first move industry the the progress, were impacted the quarter the recognize been underperformers. store to have
closings. our Hill and store Nordstrom store challenges That We're benefit to resulting New stands has certainly closings. Jersey fortunate be of from closings most crisis and by to said Cherry believe this other unimpacted the the accelerated
XX which penny. we to which we support the JC through Penney, they we stores, believe contributing had reshaping see have work encouraged to issues for annual X.X place portfolio. scaled a million there's Regarding XX down were when the and in stores We compares a began rent,
we So, forward this to working through look with them.
believe don't densification in limited. have for based internal within in exposure We the non-recourse factoring but any performance, into property, debt store our closures review, location is portfolio, insight on opportunity our we our and sales
and to to and local a are in the centerpiece engines we perspective are our take reopening, malls is our communities. thousands. steps of Malls economic a communities. center critical employing unifying look As be continue force forward towards will their thoughtfully that our
market-dominant entertainment, and Our at estate expect paying generally social We're as traditional the And real local this. options. case, portfolio level, the out largest position more as than retail we fitness, employs annual the our often in XX,XXX tax acting for in hub, in to strengthen with people taxes. restaurants, million are retail our payers activity a $XX places we move municipalities, gathering of
we've place closure workers, the donations the to During came provided which food period, hard the our our worked essential Across used naturally. communities to drive, meals needed supplies. blood portfolio, drives, held in our donated much protective of hearts mall cement
harness Never a powerful our as determined to malls this our actions more and and continue of force. communities our impact communities. breeds the value unifying a power to have good serve been has evident We for our that
As for and on we normal, rebuilding creating new customers move the we're a and healthy with for environment ahead plan our ahead safe, focused retailers. comfortable and
to overcome new programs create customers retailers, we and value brick-and-mortar for our implementing are we As limitations.
sidewalk In to to allows addition we're creative continue offerings, avenues, We'll platforms. operating, tenants something among we and this rest we again ideas. have platform that to a if virtual the have like shopping personal overstock curbside now sales, their amplifying solutions assist exploring and confidents in until to our occur would that other inventory,
The have encouraging. early Initial more we're our weeks. We've place retailers property each of results as is mass by X once in traffic times the reopen openings momentum weekend, critical X with overtime as more retailers Regarding about since seen reopen. reopening, opening of stores. occupancy to multiple and plans open more properties gain three have and increased a up to been
wear been June weeks XX% spending further will solid less Mall, more traffic has by at sales our shoppers per two which ago, masks. June open about media just be month, by and East frequently just Local seeing will Mall, outlets move Xst. and more opened XX% the we which safety but a the Jacksonville have we praised customer. on seems Magnolia Coast, shopping be delivery the occupancy Xst, At with Retailers And a we're reporting are it North protocols.
that protocols safer have our mask and for to social sanitized increased stations work. sanitizer better enter, our our environment creating counting develop distancing customers, a they offering getting each plentiful to while customer throughout follow-up to have appropriate properties, our assist protocols, back back as have to stations, welcome cleaning We're customers, in and customers shopping allow
With it our financial to that, details some position. provide I'll on Mario color liquidity turn and to over
