MANILA, Philippines – Gokongwei-led RL Commercial REIT, Inc. (RCR) is set to expand its portfolio after its board approved a P10.62-billion property-for-share swap transaction with sponsor Robinsons Land Corp. (RLC), adding six mall assets to its growing portfolio.
In a disclosure on Tuesday, RCR said its board approved the transaction during a special meeting held last June 23.
READ: RLC raises P7B from RCR share sale at P7.40 each
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“The transaction is comprised of six mall assets totaling 160,269 square meters of gross leasable area, namely, Robinsons Dumaguete, Robinsons Tagaytay, Robinsons Iligan, Robinsons Galleria South, Robinson La Union and Robinsons Naga,” the company said.FEATURED STORIES
