The adds 156,631 square meters to MREIT’s portfolio, increasing its total gross leasable area by 48 percent to 482,055 sqm.
MREIT will acquire the assets by issuing 926.16 million shares valued at P14.20 per share.
Management’s view
“This acquisition is a major milestone in our mission to drive MREIT’s growth and solidify its position as one of the leading REITs in the Philippines,” said Kevin L. Tan, president and CEO of MREIT.
“These high-quality, income-generating assets will start contributing to MREIT’s income by the fourth quarter of this year, further enhancing value for our shareholders and ensuring sustained growth in dividends,” he added.
Which assets?
These are Two West Campus, Ten West Campus, One Le Grand in McKinley West; One Fintech, Two Fintech in Iloilo Business Park; and Davao Finance Center in Davao Park District.
This expands MREIT’s portfolio to 24 prime office properties strategically located in five Megaworld premier townships: Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and now, Davao Park District.
