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Parkway Life REIT Enhances Its Japan Portfolio With Their Nursing Home Acquisition In 2021

Parkway Life REIT Enhances Its Japan Portfolio With Their Nursing Home Acquisition In 2021

December 14, 2021 – Parkway Life Real Estate Investment Trust announced the acquisition of a nursing home located in the Greater Tokyo Region in Japan for a total consideration of JPY3,200 million (approximately S$37.92 million).

HSBC Institutional Trust Services (Singapore) Limited, as trustee of PLife REIT, has through its wholly-owned subsidiary, Parkway Life Japan4 Pte. Ltd., entered into a Tokumei Kumiai agreement (or silent partnership, similar to the holding structure for PLife REIT’s previous acquisitions in Japan) for the acquisition of the Property.

The acquisition will be made at approximately 7.0% below valuation and is expected to generate a net property yield of 5.9%. The acquisition of the Property is expected to complete by December 2021.

This transaction marks the third acquisition of the year, bringing PLife REIT’s Japan portfolio to 52 properties, totalling approximately S$804.03 million in value.

Read more here..

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