The properties include Two West Campus, Ten West Campus, One Le Grand in McKinley West, One Fintech and Two Fintech in Iloilo Business Park, and Davao Finance Center in Davao Park District, MREIT said in a statement on Monday.
These properties will be exchanged for 926,162,000 MREIT primary shares at P14.20 each, a 10 percent premium over the closing share price last May 10, 2024.
The purchase, based on appraisal reports and validated by a third-party fairness opinion.
He said MREIT is preparing for the “next set of acquisitions” before the end of 2024.
Last month, Megaworld sold P500 million worth of shares in MREIT, creating headroom for the parent firm to inject more assets into the real estate investment trust.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
