MREIT, Inc. agreed to acquire Four Prime, Grade A, Office Properties in PEZA-Accredited Zones for PHP 4.9 billion.
April 03, 2022
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MREIT, Inc. (PSE:MREIT) agreed to acquire Four Prime, Grade A, Office Properties in PEZA-Accredited Zones for PHP 4.9 billion on April 1, 2022. Under the terms of the acquisition, the properties will be exchanged for 263,700,000 MREIT primary common shares
at a share price of PHP 20 per share. With these acquisitions, MREIT will have 100% ownership of the two Iloilo Business Park properties, and 80% economic interest in the two McKinley West office towers.
MREIT, Inc. is a Philippines-based company, which operates as a real estate investment trust (REIT). The Company seeks to secure income growth and provide a competitive investment return to the investors through present and future portfolio. Its objectives are primarily to own and invest in income-producing commercial portfolio of office, retail, and hotel properties in the Philippines. The Companyâs investment properties include several buildings for mixed-use, which are being leased out as office, retail, and hotel, including the hotelâs parking spaces. The Company's properties include Eastwood City, Iloilo Business Park, and McKinley Hill. Iloilo Business Park is an integrated urban township in a 72-hectare property in the bustling district of Mandurriao, Iloilo City. McKinley Hill is an integrated urban township on 50 hectares of land inside Fort Bonifacio, a former military camp in Taguig City.
MREIT, INC. 
