Property giant Megaworld Corp. continues to bolster the portfolio of its real estate investment trust, MREITInc., with the injection of more office assets worth P16.22 billion ....
MREITInc ... The infusion will add 165,477 square meters (sqm) of gross leasable area (GLA) to MREIT’s portfolio, bringing its total office portfolio to 646,891 sqm upon completion of the deal.
The gradual infusion of assets should provide steady returns for MREIT investors while leveraging high-demand locations within Megaworld’s townships, the company said.
MREITInc., the real estate investment trust (REIT) arm of Megaworld Corp., is seeking regulatory approval to increase its authorized capital stock to P8 billion from P5 billion under an asset swap with its parent.