AREIT acquires Northpoint Technohub, Bacolod Capitol Corporate Center

Real estate investment trust, AREIT Inc, confirmed that it has acquired Ayala’s Northpoint Technohub and Bacolod Capitol Corporate Center.

In a disclosure to the Philippine Stock Exhcange, AREIT said that the 2 properties in Talisay and Bacolod cities were part of a deal to acquire P15.46 billion of commercial property assets from Ayala Land as part of its leasable assets.

The Bacolod Capitol Corporate Center which is located within the Ayala Capitol Central

has a total of 11,000 square meter leasable space. The Ayala Northpoint Technohub on the other has a total leasable space of 5,000 square meter. The property is currently occupied by call center company, iQor.

Aside from these 2 properties, the deal also include spaces in Vertis North in Quezon City, One and Two Evotech in Nuvali Sta. Rosa, Laguna and office condominium units at BPI-PhilAm buildings in Makata and Madrigal Business Park in Alabang.

The combined transactions involves a total of 205,000sqm leasable spaces and scales up AREIT’s deposited property value to P52 billion from the current P32 billion.

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