MREIT to buy P20-B office assets from Megaworld

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MREIT, Inc., the real estate investment trust of township developer Megaworld Corporation, is set to acquire additional office assets worth around P20 billion this year.

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In a disclosure to the Philippine Stock Exchange, the MREIT said this acquisition will eventually increase its portfolio value by 34 percent from the current P58.5 billion to P78.5 billion by end-2022.These properties will be acquired from parent company Megaworld from among its Megaworld townships across the country.

In December last year, MREIT completed the acquisition of four commercial properties with a total gross leasable area of 55,700 square meters at the cost of P9.1-billion. The various properties will be infused throughout the year with funding expected to come primarily from equity and potentially some debt.

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SCAM WARNING!!! If You want to lose all your life savings, invest in MegaWORST! They habitually break contracts & violate Maceda Law + Presidential Decree 957. Endless delays, excuses, lies and deceit. They delay the turnover (2 YEARS!), withhold your title (5 YEARS!!!).

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