Parkway Life REIT has cited higher revenue from its properties as a primary contributing factor to the quarter's results.

Parkway Life REIT has announced that it will be making two further nursing home acquisitions in Japan as part of plans to continue growing its Japanese portfolio.

The properties to be acquired are Palmary Inn Shin-Kobe, located within the Hyogo prefecture and the Toyonaka, located in the Osaka prefecture. Both properties are said to be located within well populated residential districts. The acquisition will be managed by HSBC Institutional Trust Services.

Parkway Life (SGX:C2PU) is a Healthcare REIT listed on the Singapore Exchange.

Parkway Life REIT currently has a portfolio of 37 healthcare properties in Singapore, Malaysia and Japan.

Units of Parkay Life REIT are currently trading at S$2.37 on the Singapore Exchange.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.