Gokongwei-led real estate developer Robinsons Land Corp. (RLC) is prepared to proceed with the next batch of asset infusions into its real estate investment trust company, RL Commercial REIT Inc. (RCR), following a P10.62-billion deal announced last month, according to Philstar Biz.
The P10.62-billion infusion involves the transfer of prime office and commercial assets from RLC to RCR, which is listed on the Philippine Stock Exchange. This move is part of RLC's strategy to unlock value from its property portfolio and reduce leverage, while providing RCR with a pipeline of income-generating assets.
RLC officials expressed confidence in sustaining the REIT's growth, citing strong demand for office space and the company's robust development pipeline. The latest infusion is expected to boost RCR's asset base and rental income, supporting future distributions to unitholders.