Filinvest REIT Corp. (FILRT) was registered with the Securities and Exchange Commission on January 14, 2000. The Company began commercial operations in 2001 and is registered with the Philippine Economic Zone Authority as an economic zone facilities enterprise. FILRT was originally known as Cyberzone Properties, Inc. before changing its name to the present one on July 2, 2021.

FILRT’s principal investment strategy is to invest in income-generating real estate. To meet the investment criteria, a potential new real estate should be located in a prime location in either Metro Manila or other key provinces in the Philippines; be focused on Grade A commercial properties (including industrial properties); and have stable occupancy, tenancy, and income operations. The Company’s sponsor is Filinvest Land, Inc.

FILRT’s property portfolio currently consists of 17 office buildings, of which 16 are in Muntinlupa City, Metro Manila and one is in Cebu City. The land on which the 16 office buildings are located is leased by the Company from the sponsor, while the land on which Cebu Tower 1 is situated is owned by the Cebu Provincial Government and is operated by the Company under a build-transfer-operate arrangement.

• Source: Project Faith. REIT Plan (Compiled) 4821-8479-4071 v.88. July 19 2021. Page 105. 

The Company’s Dividend Policy

…the Company intends to maintain an annual cash dividend payout ratio of at least 90% of Distributable Income for the preceding fiscal year, subject to compliance with the requirements of the REIT Law and the Revised REIT IRR, including but not limited to the requirement that the dividends shall be payable only from the unrestricted retained earnings as provided for under Section 42 of the Revised Corporation Code, among % of Dividends others, the terms and conditions of the Company’s outstanding loan facilities in the event the Company incurs indebtedness, and the absence of circumstances which may restrict the payment of such amount of dividends, including, but not limited to, when there is need for special reserve for probable contingencies. The Company intends to declare and pay out dividends on a quarterly basis each year.

The failure to distribute at least 90% of the annual Distributable Income will subject the Company, if such failure remains un-remedied within 30 days, to income tax on the taxable net income as defined in Chapter IV, Title II of the National Internal Revenue Code, as amended, instead of the taxable net income as defined in the REIT Law. Accordingly, dividends distributed by the Company may be disallowed as a deduction for purposes of determining taxable net income. Additionally, other tax incentives granted under the REIT Law may be revoked, and the failure to distribute at least 90% of the annual Distributable Income may be a ground to delist the Company from the PSE.

1. Plaz@ A at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 6 storey office building, Grade A classified and PEZA Accredited. It has 10,860 square meters of gross leasable area and 64 parking spaces. As of March 2021, this is 100% occupied. Its main tenant is the BPO company Concentrix.

2. Plaz@ B at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 4 storey office building, Grade A classified and PEZA Accredited. It has 6,488 square meters of gross leasable area and 58 parking spaces. As of March 2021, this is 85.20% occupied. Its main tenant is BPO company codenamed Tenant 10.

3. Plaz@ C at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 4 storey office building and is Grade A, PEZA Accredited. It has 6,540 square meters of office space and 58 car parking capacity. As of March 2021, this is 100% occupied. Its main tenant is the same Unnamed, codenamed Tenant 10.

4. Plaz@ D at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 6 storey office space, Grade A classified and PEZA Accredited. It has 10,860 square meters of office space and 64 parking spaces. As of March 2021, this is 83.20% occupied. Its main tenant is a BPO company codenamed Tenant 16.

5. Plaz@ E at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is 12 storey office building, Grade A classified and PEZA Accredited. It has 14,859 square meters of gross leasable area and 127 parking spaces. As of March 2021, this is 100% occupied. Its main tenants are BPO companies Majorel, Hinduja Global and EXL Service Philippines.

6. Capital One Building at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 5 storey office building, Grade A classified and PEZA Accredited. It has 18,000 square meters of gross leasable area and 93 parking spaces. As of March 2021, this is 100% occupied. Its sole tenant is the BPO company COPSSC (Capital One).

7. 5132 Building at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is 6 storey office building, Grade A classified and PEZA Accredited. It has 9,409 square meters of gross leasable area and 55 parking spaces. As of March 2021, this is 100% occupied. Its sole tenant is the BPO company Genpact Services LLC.

8. iHub 1 at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 6 storey office building, Grade A and PEZA Accredited. It has 9,480 square meters of gross leasable area and 46 parking spaces. As of March 2021, this is 70.70% occupied. Its main tenant is the BPO company Genpact Services LLC.

9. iHub 2 at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 9 storey office building, Grade A classified and PEZA Accredited. It has 14,181 square meters of gross leasable area and 84 parking spaces. As of March 2021, this is 100% occupied. Its main tenants are BPO companies Concentrix  and AIG.

10. Vector One at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is 14 storey office building, Grade A classified and PEZA Accredited. It has 17,764 square meters of gross leasable area and166 parking spaces. As of March 2021, this is 92% occupied. Its main tenants are Filinvest affiliated companies Filinvest Alabang, Inc., (FAI) and Filinvest Land, Inc., (FLI) and BPO company Concentrix.

11. Vector Two at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 14 storey office building, Grade A classified and PEZA Accredited. It has 17,889 square meters of gross leasable area and 153 parking spaces. As of March 2021, this is 100% occupied. Its main tenants are Filinvest affiliated companies Filinvest Hospitality Corporation, Chroma Hospitality, Inc. and Filinvest Supermall, Inc. Its other tenants are BPO companies Genpact Services LLC, Infosys and Tenant 13 (Unnamed tenant).

12. Vector Three at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 22 storey building, Grade A classified, PEZA Accredited and LEED Gold Certified. It has 36,345 square meters of gross leasable area and 365 parking spaces. As of March 2021, this is 68.30% occupied. Its main tenants are BPO companies Optum, Majorel, Tenant 18 (Unnamed tenant) and SLK Global Philippines.

13. Filinvest One at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is 10 storey office building, Grade A classified and PEZA Accredited. .It has 19,837 square meters of gross leasable area and 109 parking spaces. As of March 2021, this is 100% occupied. Its main tenant is a BPO-Captive Market company codenamed Tenant 7.

14. Filinvest Two at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 14 storey office building, Grade A classified and PEZA Accredited. It has 23,784 square meters of gross leasable area and 89 parking spaces. As of March 2021, this is 100% occupied. Its main tenant is a BPO company codenamed Tenant 20.

15. Filinvest Three at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is 14 storey office building, Grade A classified and PEZA Accredited. It has 23,784 square meters of 87 parking spaces. As of March 2021, this is 66.50% occupied. Its main tenants are Filinvest affiliated company Corporate Technologies, Inc. and BPO companies Capital One and Synchrony Global Services.

16. Axis Tower One at Northgate Cyberzone, Filinvest Alabang, Muntilupa City

This property is a 25 storey office building, Grade A classified, PEZA Accredited, LEED Gold Certified. It has 40,869.4 square meters of gross leasable area and 460 parking spaces. As of March 2021, this is 89.60% occupied. Its main tenants are Filinvest affiliated company Filinvest Alabang, Inc. (FAI) and BPO companies Accenture, and Tenant 6 (Unnamed tenant).

16. Cebu Tower 1 at Salinas Drive cor. W. Geonzon St., Lahug, Cebu City

This property is 13 storey office building, Grade A classified and PEZA Accredited. It has 19,937 square meters of gross leasable area and 274 parking spaces. As of March 2021, this is 99.10% occupied. Its main tenants are BPO companies Optum and Accenture.

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• Source: Project Faith. REIT Plan (Compiled) 4821-8479-4071 v.88. July 19 2021. Info reported as of March 31 2021. Page 221 (PDF241). 

• Source: Project Faith. REIT Plan (Compiled) 4821-8479-4071 v.88. July 19 2021. Page 221 Leasing Activities, Expiry, and Renewals 

Two Types of Office Space Leasing:

1. Standard office spaces – As of 3/31/2021, this makes up 93% of the 268,520 square meters gross leasable area.
2. Build-to-suit office spaces – As of 3/31/2021, this makes up 6.7% of the 268,520 square meters gross leasable area.

Standard Lease Terms & Conditions:

1. Standard office spaces – Minimum 3 years.
2. Build-to-suit office spaces – Minimum 6 years.
3. Security Deposit equivalent to 3 months rents. Forfeited upon pre-termination before lease expires or pre-terminates without 3-6 months written notice or default in payments.
4. Advance rental payment – Equivalent to 3 months lease. Applied to the first 3 months of the lease.
5. Misc. Payments – Tenant pays monthly service charge for maintenance of building, public utility, services and upkeep of common areas. (association dues).
6. Schedule of Lease Payment – Quarterly. On or before the 5^th day of the first month of the quarter to which the lease corresponds.

Other Conditions:

1. All alterations, additions, improvements of the tenant becomes part of the property at the end of the lease contract, without compensation to the tenant.
2. Only exception to #1 is when the alterations, additions, improvements are movable or detachable without defacing, injuring or damaging the leased property.
3. The Company/Landlord may require tenant to restore the leased property to its original condition prior to the start of the lease. Wear and tear excepted.

Retail Leasing:

1. Minimum of 1 year – As of 3/31/2021, the committed leases for the retail properties range from 1 to 6 years.
2. Right to renew – Tenants have a right to renew their contract of lease for an additional 5 years, subject to 2 conditions;
   1. First, tenant have to notify the Company/Landlord of its intention to renew at least 6 months before the lease expires.
   2. Second, rental rate for the renewed contract shall be prevailing rate of rent and escalation of buildings in the same area of similar in size, location, age and quality.