By Jenniffer
B. Austria | Posted on Apr. 22, 2013 at 12:01am
[
BusinessWorld Online ]
Property
developers Ayala Land Inc. and Robinsons Land Corp. are both interested in
acquiring a controlling stake in five office buildings in Bonifacio Global City
owned by Apollo Global Real Estate of billionaire Leon Black.
Apollo Global
Real Estate, which has about $9 billion of assets, is the property investment
arm of New York-based Apollo Global Management LLC, a global alternative
investment manager with $113 billion in assets run by Black, a co-founder of the company.
RLC president
Frederick Go said in an interview the company was negotiating with Apollo to
acquire the stake in the five office buildings with a gross leasable area of
147,000 square meters.
“Yes we are
in talks,” Go said.
Ayala Land
group head for residential, office and shopping center Bernard Vincent Dy said
in a separate interview the company was also interested in making a bid for the
office towers. “If it is project as big as that, then we will be interested,”
Dy said.
The towers
were built by The Net Group of businessman Carlos Rufino, who was reportedly
interested in keeping the company’s stake in the five towers.
Rufino
declined to comment on the planned sale of Apollo’s stake in the office
buildings, but said the Net group would continue with its planned expansion
projects.
The towers on
sale include the Net Plaza, Net Quad, Net Cube, Net Square and Net One Center
which are fully leased, the document showed. Tenants include Accenture Plc,
HSBC Holdings Plc, Deutsche Bank AG and JPMorgan Chase & Co.
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