AREIT Fund and Property Managers
AREIT Fund Managers, Inc.
Board of Directors | Designation | Year Appointed | Expertise |
Ma. Luisa D. Chiong | Chairman | March 15, 2021 | Finance, accounting, and real estate |
Patricia Gail Y. Samaniego | President and CEO | December 27, 2019 | Office and mall leasing; Business development |
Ma. Angela E. Ignacio | Independent Director | January 29, 2020 | Economics, Banking, and Finance |
Eduardo F. Saguil | Independent Director | January 29, 2020 | Real Estate, Finance, and Capital Markets |
Simeon S. Cua | Independent Director | December 3, 2021 | Business Management, Real Estate, and Law |
As required by the REIT law, AREIT engaged the services of a Fund Manager, AREIT Fund Managers, Inc. (AFMI), on February 5, 2020. AFMI is duly licensed by the SEC to act as a REIT Fund Manager with all the qualifications and none of the disqualifications imposed by relevant laws, rules, and regulations.
AFMI’s Board majority is composed of independent directors and all its members have a working knowledge of real estate, fund management, corporate finance, and other relevant finance-related functions. AFMI is a wholly-owned subsidiary of Ayala Land, Inc.
Under the REIT law, AFMI, as Fund Manager, has the general power to manage AREIT’s assets and liabilities for the benefit of AREIT’s shareholders pursuant to the Fund Management Agreement (a five-year, renewable agreement defining the relationship between AREIT and AFMI). The Fund Manager’s focus is on generating rental income and, if appropriate, increasing the company’s assets over time to enhance the returns from the investments and, ultimately, the distributions to the company’s shareholders.
AREIT Property Managers, Inc.
Board of Directors | Designation | Year Appointed | Expertise |
Francisco Ma. D. Roxas | Chairman | May 7, 2019 | Office Leasing and Operations; Business management |
Benjamin S. Borja, III | President and CEO | January 30, 2020 | Property Management and Architecture |
Alfonso Victorino G. Reyno, III | Independent Director | January 30, 2020 | Business Management and Law |
Abelardo M. Tolentino, Jr. | Independent Director | May 7, 2019 | Architecture; Urban and Regional Planning |
Joselito N. Luna | Independent Director | January 30, 2020 | Architecture; Urban and Regional Planning |
As required by the REIT Law, AREIT engaged the services of a Property Manager, AREIT Property Managers, Inc. (APMI), on February 5, 2020 as its Property Manager. APMI is an independent corporate entity duly qualified to perform the responsibilities of a REIT Property Manager.
APMI’s Board majority is composed of independent directors, and all its members have a working knowledge of real estate and property portfolio management. APMI is a wholly-owned subsidiary of Ayala Land, Inc.
The Property Manager’s executive officers are primarily responsible for the day-to-day management of AREIT’s properties, pursuant to the Property Management Agreement (a five-year, renewable agreement defining the relationship between the company and the Property Manager). APMI also manages the execution of new leases and renewing or replacing expiring leases, as well as the marketing and promotion of the properties.
In addition, APMI oversees the overall management, maintenance, and repair of the structure and utilities of the AREIT’s properties; formulation and implementation of policies and programs on building management; maintenance and improvement; securing and administration of routine management services, including security control, fire precautions, communication systems, and emergency management; and building management operations. For janitorial, technical, and security services, the Property Manager may engage third-party companies.