AREIT raises cash for Seda Lio acquisition

AREIT raises cash for Seda Lio acquisition

AREIT Inc., the real estate investment trust sponsored by Ayala Land Inc., reported that it has sold three condominium units to help fund the acquisition of a hotel owned by its parent company in Palawan.In a disclosure to the Philippine Stock Exchange, AREIT said it sold three office condominium units at Ayala-Life FGU Center Alabang with an aggregate gross floor area of 339 square meters with net proceeds amounting to P42.69 million in cash in…