AREIT Inc. (AREIT) identified the ten properties included in its P15 billion-property-for-share swap
transaction with its sponsor, Ayala Land, Inc. (ALI) in a disclosure to the Philippine Stock Exchange (PSE) this morning.
It announced that a total of 205 thousand sq. meters of leasable space, primarily composed of office leasing properties located within Ayala Land’s prime estates in the country will form part of its roster of REIT assets.
These are Vertis North Commercial Development which has three office buildings and a retail podium located in Quezon City; One and Two Evotech in Nuvali Santa Rosa, Laguna; Bacolod Capitol Corporate Center and Ayala Northpoint Technohub, both located in Negros Occidental; and office condominium units at BPI-Philam Life buildings in Makati CBD and Madrigal Business Park in Alabang.
The largest of these properties is Vertis North commercial development with 125,000 sq. meters of leasable space and a retail podium of 39,000 sq. meters. The three office buildings are 97% occupied and are leased to large BPO locators including Google Services Philippines, Teleperformance, Telus and Global Payments. The retail component is operated by a wholly-owned subsidiary of ALI under the Ayala Malls brand and will pay a monthly guaranteed building lease to AREIT for a period of 36 years, ensuring stable income to AREIT. Vertis North commercial development is LEED certified.
Following Vertis North Commercial Development are the Evotech buildings in Nuvali with a total of 23,000 sq. meters of leasable space. The buildings are 100% occupied and leased to Concentrix CVG Philippines and IBM Business Services. One Evotech is LEED silver certified. The other properties are Bacolod Capitol Corporate Center with 11,000 sq. meters and Ayala Northpoint Technohub with 5,000 sq. meters both of which are 100% occupied by ARB Call Facilities and Iqor, respectively. All said buildings are PEZA accredited. Furthermore, the office condominium units in the BPI-Philam Life Buildings in Makati and in Alabang have a total of 1,500 sq. meters, 100% occupied and leased to
Oberthur Card Systems in Makati and Amaia Land, an Ayala Land subsidiary headquartered in Alabang.
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