If we needed more evidence to show that Mr. Fermin was pushed out of MAXS prematurely, here it is. Remember how the disclosure said that he was leaving MAXS due to “retirement”? Looks like he discovered a second wind. Mr. Fermin oversaw MAXS’s successful post-COVID rebound and appeared to have done a very competent job of navigating the firm through a very difficult time.] received SEC approval for the property-for-shares swap that will transfer P22.
Revenue from the acquisitions is expected to appear in AREIT’s Q3 financial statements.This transaction was approved by the AREIT board back in March, so it’s taken the SEC over six months to approve. Considering how common this type of swap is for REITs, and how important the REIT sector appears to be to the PSE’s development plan for the capital markets both now and into the future, it seems like something needs to be done to reduce the administrative lag at the SEC level.