MREIT, Inc. Secures Approval to Acquire Six Assets Worth P13.15 Billion

​MREIT, Inc., the REIT company of pioneer township developer Megaworld Corporation, has received the approval from the Securities and Exchange Commission (SEC) to acquire six prime, PEZA-accredited office properties valued at P13.15 billion. This acquisition will expand MREIT’s portfolio by 156,631 sqm, increasing its total gross leasable area by 48% to 482,055 sqm.

The properties included in the acquisition are Two West Campus, Ten West Campus, and One Le Grand in McKinley West; One Fintech and Two Fintech in Iloilo Business Park; and Davao Finance Center in Davao Park District. In exchange, MREIT will issue 926,162,000 primary shares at a share price of P14.20 per share, based on independent appraisals and third-party fairness opinion, duly approved by the company’s RPT Committee and Board of Directors.

“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, Inc. “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,” adds Tan.

The acquisition will expand 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. This reinforces MREIT’s strategy of acquiring prime assets in key growth areas that offer stability and long-term value to the company.

The expanded portfolio will enable MREIT to further leverage its position in the office leasing market, while providing shareholders with enhanced returns through diversified, high-quality assets.