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RL Commercial REIT (RCR) has approved a property-for-share swap transaction with its sponsor, Robinsons Land Corporation, involving six mall assets valued at PHP 10.62 billion. Under the deal, Robinsons Land will subscribe to 1.29 billion new common shares of the REIT at PHP 8.25 per share. The transaction is expected to expand RL Commercial REIT's asset portfolio and strengthen its retail property exposure. In a separate development, Sweden-based Prisma Properties completed a land swap in Uppsala and secured a long-term lease agreement with Lidl for a new retail store in the Gränby area.
RL Commercial REIT Inc. has approved a property-for-share swap transaction with its sponsor, Robinsons Land Corporation, as part of efforts to expand its portfolio through the injection of additional income-generating assets.
The approved transaction involves six mall assets that will be transferred to RL Commercial REIT. In exchange, Robinsons Land Corporation will subscribe to approximately 1.29 billion new common shares of the REIT at PHP 8.25 per share, representing a total transaction value of PHP 10.62 billion.
The deal forms part of the sponsor's strategy of transferring mature commercial assets into the REIT platform, a practice commonly used by listed real estate investment trusts to grow their asset base while providing sponsors with an avenue to recycle capital for future developments. The addition of the six mall properties is expected to increase RL Commercial REIT's exposure to the retail segment and further diversify its portfolio.
RL Commercial REIT is one of the major listed REITs in the Philippines and has historically expanded through asset infusions from Robinsons Land Corporation. The latest transaction continues that growth strategy and highlights the role of sponsor-backed acquisitions in supporting portfolio expansion and potential long-term income generation.
In a separate real estate transaction, Sweden-based Prisma Properties AB announced the completion of a land swap in Uppsala. The company entered into a land swap agreement with the Municipality of Uppsala and will proceed with the development of a new Lidl store in the Gränby district.
As part of the project, Prisma Properties has signed a 10-year lease agreement with Lidl, providing long-term occupancy for the planned retail asset. The development reflects continued demand for grocery-anchored retail properties in the Nordic market, where long-term leases with established retailers remain a key component of investment strategies.
The Uppsala project adds to Prisma Properties' retail-focused development pipeline and strengthens its presence in Sweden's growing commercial property market.
Source Reuters
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