1 week AREIT buys Teleperformance Cebu bldg from ALI MB |Biz
AREIT, Inc. (AREIT), the Ayala Land-sponsored real estate investment trust, has signed a Deed of Sale to acquire Teleperformance Cebu (TP Cebu) from ALI’s wholly-owned subsidiary ALO Prime Realty Corporation. TP Cebu is a Grade-A, PEZA-accredited, and LEED Gold Certified Business Process Outsourcing (BPO) development located in Cebu I.T. Park. It was completed in 2013 with a total gross leasable area (GLA) of 18,092 square meters (sqm). The building is 100 percent occupied with 17,682 sqm leased by Teleperformance and 410 sqm by McDonald’s. The addition of TP Cebu to AREIT’s portfolio will increase its total GLA from nearly ... more