Real estate investment trust (REIT) pioneer AREIT Inc. of the Ayala Group is taking over six office buildings in Cebu, boosting its overall asset portfolio by 20 percent to P64 billion. In a stock exchange filing on Wednesday, AREIT said it would acquire the office buildings after the Securities and Exchange Commission approved an P11.23-billion asset swap deal with its sponsor and controlling shareholder, Ayala Land Inc. The deal will increase AREIT's leasable assets by 22.6 percent to 673,000 square meters. In turn, Ayala Land will gain 252.14 million AREIT shares at a price of P44.65 per share. "As the first Philippine REIT which successfully listed amidst the pandemic, AREIT...Keep on reading: AREIT sees asset boost after SEC clears P11.2-B swap with Ayala Land