MREIT, Inc. (MREIT), a real estate investment trust owned by Megaworld Corporation, has received approval from the Securities and Exchange Commission (SEC) to buy nine office buildings in McKinley Hill, Taguig. According to the company’s disclosure, this approval came earlier than expected.

What Is MREIT Buying?

MREIT is acquiring nine Grade A office buildings (the highest quality office buildings) as part of what they call their “Wave 4” expansion. Here’s what makes this deal important:

• Total Value: Approximately P16.2 billion
• Size: About 165,500 square meters of office space (imagine about 23 soccer fields worth of office space)
• Location: All buildings are in McKinley Hill, a township developed by Megaworld in Taguig
• Occupancy Rate: 97% as of end-2025, meaning almost all the office space is rented out

How Is MREIT Paying for This?

Instead of paying all cash, MREIT is doing what’s called a “property-for-share swap.” This means:

• P16,029,600,000 will be paid by giving Megaworld new MREIT shares
• Only P187,500,000 will be paid in cash

Think of it like trading baseball cards instead of buying them with your allowance money.

Who Are the Tenants?

According to the disclosure, more than 80% of the buildings are rented to Global Capability Center (GCC) tenants. These are multinational companies that set up long-term offices in the Philippines. These types of tenants are considered more stable because they:

• Sign longer lease contracts
• Are deeply integrated into their operations
• Are less likely to move out

How Much Bigger Will MREIT Become?

After this acquisition, MREIT’s total office space will grow by about 34%, increasing from around 481,500 square meters to approximately 647,000 square meters.

Kevin L. Tan, Chairman of MREIT, stated in the announcement: “This approval marks another important milestone in MREIT’s growth journey. Wave 4 represents a key step in scaling the platform while maintaining our focus on disciplined and accretive expansion.”

Good News for Investors

The company mentioned that the income from these buildings will count starting January 1 of this year, which means investors can benefit from the acquisition right away.

The deal was done at a 15% premium to MREIT’s 30-day volume-weighted average price (VWAP) when it was announced in December 2025. This pricing structure is designed to minimize dilution to existing shareholders and provide room for MREIT to grow its dividends per share.

What’s Next for MREIT?

MREIT is already preparing for “Wave 5,” their next round of acquisitions. This time, they plan to diversify by buying mall properties (retail) instead of just office buildings. This is expected to happen in the second half of the year, subject to due diligence, valuation, and regulatory approvals.

The company’s expansion goals are ambitious:

• After Wave 5: Approximately 750,000 square meters of space
• By 2027: Target of one million square meters

MREIT has access to many properties through its parent company Megaworld and the broader Alliance Global Group, which gives it plenty of buildings to potentially acquire in the future.

This information is based on MREIT’s SEC filing dated March 19, 2026.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.