Century Properties signs agreement to own 50% of Pacific Star Building

Property developer Century Properties Group Inc. signed an agreement with the owner of Pacific Star Building (PSB Low Rise) to own 50 percent of the low-rise tower in Makati City.

According to an e-mailed statement on Sunday, Century Properties Group is acquiring the 5,900-square meter office space through "assuming the existing loan" of the building located at Sen. Gil J. Puyat corner Makati Avenue in Makati City.

The company expects PSB Low Rise to contribute to its revenues as the property is fully leased out.

As of end-December 2013, Century Properties had completed 24 condominium and commercial buildings that comprised of 8,197 units. — Kathryn Mae P. Tubadeza/DVM, GMA News