RLC's REIT eyes more mall, office asset infusions

Gokongwei-led RL Commercial REIT Inc. (RCR) is looking at adding more mall and office assets of its sponsor Robinsons Land Corp. (RLC) to bolster its portfolio in the near term, as the infusion of hotels is expected to still take a while.

- — Richmond Mercurio

RCR treasurer and director Kerwin Tan said a three-year target has been mapped out to make RCR, the country's largest real estate investment trust in terms of geographical reach, "as big as possible."

"Actually when you look at the sponsor's assets, the current assets that are in RCR right now from the sponsor is just I think one-third of the sponsor's assets. So potentially, RCR can grow two-thirds of the assets from the sponsor more. So it's basically three times more from the current size, potentially," he said.

Tan, who also serves as chief financial officer of RLC, said the asset infusions would all depend on market conditions as well as other factors.